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VARVARA [1.3K]
3 years ago
6

The accounting department of a large firm is interested in modeling the dynamic of its accounts receivable (that is,the money th

at is owed to it by its customers) when a charge sale occurs,abill is sent out at the end of the month .payment is due within thirty days ,but may not occure in that time.if no payment is received within six months of the billing date,the amount is classified as bad debt.thus,an individual account is described by its age in months,or by "paid" or by "bad debt".For numerical values,assume that the prob. that payment is made in the first month is 0.8 and decline by 0.1 each additional month.that is,the prob.it is paid in the second month is 0.7 ,in the third month is 0.6,and so on. Formulate the terminating Markov chain that describes the debt payment.
Business
1 answer:
Illusion [34]3 years ago
8 0

Answer:

Explanation:

Here is the Markov chain, when the problem says 'terminating' it means that the probability after seven months never changes. After six months

accounting moves it to "bad debt," and, for the purposes of this problem, transistion probabilites end.

Month one: paid 0.8 unpaid 0.2

Month two: paid 0.7 unpaid 0.3

Month three: paid 0.6 unpaid 0.4

Month four: paid 0.5 unpaid 0.5

Month five: paid 0.4 unpaid 0.6

Month six: paid 0.3 unpaid 0.7

Month seven: and above paid 0 unpaid 1.0

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An annual reporting period consisting of any twelve consecutive months is known as:________.1. Calendar year2. Natural business
11111nata11111 [884]

Answer:

4. Fiscal year

Explanation:

Reporting period refers to the period or time covered by a set of financial statements. It is the accounting period in which a given financial report will be covered. It may either be monthly, quarterly or yearly depending on organization's choice.

Now, fiscal year is an accounting period or reporting period that consist of 12 month used for accounting purposes. It is a yearly reporting period made up of 12 consecutive months. It may or may not correspond to the normal calendar year depending on the organization's choice or decision.

3 0
2 years ago
You are hoping to buy a new boat 3 years from now, and you plan to save $5,800 per year, beginning one year from today. You will
sweet-ann [11.9K]

Answer:

FV= $17,701.6

Explanation:

Giving the following information:

Annual deposit (A)= $5,800

Interest rate (i)= 5.2%

<u>To calculate the future value after the third deposit, we need to use the following formula:</u>

<u></u>

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {5,800*[(1.052^2) - 1]} / 0.052 + 5,800

FV= $17,701.6

3 0
3 years ago
What are examples of cocurricular education? Check all that apply.
DENIUS [597]

a CTSO for students taking marketing classes

a club providing hands-on laboratory experience for students taking a science class

an agricultural organization for students in an agricultural school

4 0
2 years ago
Read 2 more answers
A company implements the following policy regarding inventory in transit: Goods purchased are included in inventory records, whi
a_sh-v [17]

Answer:

c. The party who has title to the inventory while in transit.

Explanation:

If you sell or buy FOB shipping point, then you could use this type of accounting method. The title of the goods is transferred immediately (as soon as the goods leave the seller's premises). But if the transactions are FOB destination, the title of the goods is transferred only after the goods have been delivered.

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3 years ago
social media data may be considered a form of secondary data, since it is information that does not originate as a result of a m
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social media data may be considered a form of secondary data.

<h3>Why can we consider social media data a form of secondary data?</h3>

There are many different categories of data that may be used in data analytics. For instance, the contrast between qualitative and quantitative data is frequently used. You might also separate your data depending on aspects like sensitivity.

For instance, is it widely known or is it really private?

The source of the data is perhaps the most basic distinction between various forms of data. Are they, specifically, first-party, second-party, or third-party data? These essential data sources all contribute in some manner to the data analytics procedure.

To learn more about secondary data from given link

brainly.com/question/18118203

#SPJ4

7 0
2 years ago
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