Answer:
Net income and the assets will be overstated by the amount of $40,000
Explanation:
On purchasing the insurance, the accounts which got affected are the Net income as as the net income will decrease because the cash is paid against the insurance. And the assets will be affected on buying the insurance.
If the company neglects to make proper adjustment for the insurance, it will lead to overstated balance of the assets account as well as the net income of the company with the balance of $40,000 because it came in effect on April 30.
Working:
Amount = $60,000 / 12
= $5,000
For 4 months,it will be:
= $5,000 × 4
= $20,000
Becky wants an account that will let her spend her money as much and as often as she needs. <u>Checking Account</u>
A checking account allows a person to make as many withdrawals as may be necessary. They may or may not earn some interest on the balance.
Sanjay wants an account that will earn interest but still let him make withdrawals. <u>Interest (Dividend) Checking Accounts.</u>
Interest (Dividend) Checking Accounts offer combined features of a checking account and a savings account. The interest rate on the balance is higher than a regular checking accounts, but an individual can withdraw money without any penalties. This account requires that an individual maintain a higher minimum balance.
Neveah has some money she wants to save until she goes to college in two years. She wants an account that will earn a little more interest. <u>Savings Accounts.</u>
Savings Accounts are interest bearing accounts and designed to encourage savings. Hence, withdrawals from such accounts may not be possible until a certain pre-agreed withdrawal date. Withdrawals before the pre-agreed date attract a large amount of penalty. Such accounts are usually used to build wealth.
<span>Option correct is C. Governors. The Federal Reserve System is a reserve system governed by an autonomous and private entity that controls the organizational structure that is overseen by a government agency, called the Board of Governors, located in Washington D.</span>
B. That is duplicated reach
Artificial selection is the intentional reproduction of individuals in a population that have desirable traits. In organisms that reproduce sexually, two adults that possess a desired trait — such as two parent plants that are tall — are bred together.
