Savings account B offers a higher APY because monthly compounding gives a better return than quarterly compounding.
Savings account A: Quarterly compounding: APY = (1+0.02/4)^4 -1 = 2.015%
Savings account B : Monthly compounding: APY = (1+0.02/12)^12 -1 = 2.018%
As we can see, Savings account B with monthly compounding produces a slightly higher APY than A and hence is better than A
<span>The answer to this
question is False. Sanctions do not only rarely achieve their goal of forcing
change in the targeted country, but they also tend to produce collateral
economic damage in the nations that do apply them.</span>
Answer:
Bloomington Inc.
Indication of Liability Amount on the Balance Sheet at December 31, 2019:
Situation Liability Amount
a. $220,000
b. $0
c. $3,100
d. $0
Explanation:
For Bloomington to recognize a liability or record it in its financial statements, the probability that an outflow of economic resources will occur in the future must be established. Bloomington must also be able to reliably measure the amount of the liability. These two conditions are satisfied in situations A and C. For situation B, the contract is not in force as at December 31, 2019, since the drill press will be purchased in January, 2020. Lastly, for situation D, the amount of the profit-sharing bonus cannot be reasonably and reliably ascertained because the amount to apply the 5% is not clear or known.