Answer:
d. All of these answer choices are correct.
Explanation:
Intangible assets with an indefinite life are not amortized over the years although they are checked impairment loss that may have occurred during the year.
Intangible assets which have indefinite life provide cash flow for endless years. An example would be goodwill.
Answer:
A)There is not sufficient evidence that the proportion is not 0.30.
Explanation:
When carrying out a statistical test, we always have two types of hypothesis which include null hypothesis and alternative hypothesis. The two hypotheses are opposite of each other, if one rejects one, he/she must accept the other. If the null hypothesis is accepted, it means that there is no statistical significance of the claim. In this case, the null hypothesis is accepted meaning that there is not sufficient evidence that the proportion is not 0.30. Hence, the correct answer is A
Answer:
The answer is: E) Only A and C of the above
Explanation:
Financial intermediaries are institutions that offer a service for individuals or institutions who want to save or borrow money. They help to promote a more efficient economy.
We take some things for granted, but try to imagine if no banks existed.
For instance, you need to borrow $200,000 to buy a new house, but none of your friends or family can lend to you. If banks (or other types of financial institutions) didn´t exist, you would have to search your neighborhood or workplace for someone willing to lend you the money. It is possible for you to find a private lender, but it would be time consuming and very inefficient. Instead the easiest way is to go to a bank and ask for a loan.
The same happens if you have saved some extra money. If banks didn´t exist you would have to hide it in your house or other places, or lend it to someone you knew that needed that money and is willing to pay it back with interest. Banks make saving money much more easy and safer.
Answer:
In this case, the amount of $20,000 represents the owner's equity.
Explanation:
Assets:
Assets are the items that are own by a business. Examples of assets are inventory, machinery, company owned vehicles etc.
Liabilities:
Liabilities are the items a business owes to others. Examples of liabilities are bank dept, taxes, mortgage debt etc.
Equity:
Owner's equity is also known as net assets refer to the owner share of assets when the liabilities are paid off.
The relation between Assets, liabilities and owner equity are represented in a equation as:
Assets = Liabilities + Owner Equity
