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Mandarinka [93]
2 years ago
8

Which short-term financial managers are involved with selling on credit and are directly responsible to the vice president of fi

nance?
Business
1 answer:
gregori [183]2 years ago
5 0

Answer:

The credit manager, and the Controller

Explanation:

The credit manager is responsible for maintaining the credit policy, in order to fulfil this target they are responsible to look at the sales and ensure the credit sales are in the sales limit.

Further that the company do not have the bad debts, it shall verify each customer properly that they have enough funds, and ensure their credibility.

Controller is responsible for maintaining the financial records of accounts, and reporting the transactions to managers.

Accordingly, Credit manager along with controller are directly responsible to the vice president of finance.

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Edgar accumulated $5,000 in loan debt. If the interest rate is 20% per year and he does not make any payments for 2 years, how m
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Answer:

Edgar

The amount he will owe on this debt in 2 years for quarterly compounding is:

= $7,387.28

Explanation:

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Period of loan = 2 years

Interest compounding = quarterly

From an online financial calculator:

N (# of periods)  8

I/Y (Interest per year)  20

PV (Present Value)  5000

PMT (Periodic Payment)  0

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Total Interest $2,387.28

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On December 31, after making a concerted effort, management determines that it will not be able to collect the $1,200 owed to it
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Answer:

See explanation below

Explanation:

The following will be selected in excel via the drop-down menus.

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