Answer:
Explanation:
People who want to obtain credit goods services from financial institutions can use their economic political property rights to do so.
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Answer: True
Explanation:
The decision to purchase a good or service or a customer benefit package is totally based on the price of that package or a good and on the benefits that a consumer will received after the purchase. A rational consumer will compare the price of a good with the perceived benefits. If the perceived benefits worth greater or equal to price then a consumer may purchase that product otherwise not. Therefore, a consumer's decision is largely depend upon the ratio of price and benefits.
Answer:
Jillian
What Jillian should ideally do is:
a. Contribute 1650 in a Roth IRA, and 1350 In her company’s 401(k) plan.
Explanation:
a) Data and Calculations:
Salary = $45,000
401(k) = 3% of $45,000 = $1,350
Employer's match to the 401(k) = $1,350 (100%)
Savings affordable = $3,000
b) Jillian can contribute to Roth IRA and her company 401(k) which her company will also match 100%. Her contributions to both funds are within the allowed limits. In 2020, the allowed limit of 401(k) plan is $19,500 while that of Roth IRA is $6,000.
Answer:
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Explanation:
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Answer:
C. Net income and stockholders' equity are both overstated.
Explanation:
In the income statement , ending inventory is deducted from the addition of the beginning inventory and net purchases to arrive at the cost of goods sold. Therefore, the cost of goods can be stated as an equation stated as follows:
Cost of goods sold = Beginning inventory + Net purchases - Ending inventory
From the above equation, it can be observed that if the ending inventory is overstated, cost of goods sold will be understated by that amount.
Since gross income is determined by deducting cost of goods sold from the net sales, an understated cost of goods sold will result in an overstated gross income and subsequently overstated net income.
Since net income is one of the components of the stockholders' equity, an overstated net income will leads to an overstated stockholders' equity.
Therefore, the correct option is C. Net income and stockholders' equity are both overstated.
