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3 years ago

True or false

Business

1 answer:

lana66690 [7]3 years ago

5 0

Answer:

I would say false

Explanation:

because if your not good in that field if expertise then you may worsen the situation instead of help it

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On November 15, Meier Company received $3,000 cash from a customer for services that were performed on November 1. According to

cupoosta [38]

Answer:

November 1

Explanation:

As per generally accepted accounting principles (GAAP), when the goods or services are delivered the revenue should be recorded and the transaction done in all respects.

The principle of revenue recognition occurs when the revenue is realized or earned, whether cash is obtained or not and it also meets the accounting accrual basis. Realizable here means that the consumer receives the product but the payment is made later.

Therefore, the revenue should be recorded on November 1

3 0

3 years ago

Dan Weaver wants to set up a fund to pay for his daughter's education. In order to pay her expenses, he will need $20,000 in fou

Mrrafil [7]

Answer:

$63,913.50

Explanation:

We are to find the present value of the cash flows from year 4 to 7

Present value can be calculated using a financial calculator

Cash flow each year from year 1 to 3 = $0

Cash flow in year 4 = $20,000

Cash flow in year 5 = $21,100

Cash flow in year 6 = $22,900

Cash flow in year 7 = $24,300

I = 6%

Present value = $63,913.50

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

5 0

3 years ago

Evan Corporation provided consulting services for Kensington Company in 2015. Evan incurred costs of $48,000 associated with the

lisov135 [29]

Answer:

2015 - $24,000

2016 - $0

Explanation:

The computation of profit for each year is shown below:

For 2015:

The profit = Service revenue - expenses incurred

= $72,000 - $48,000

= $24,000

For 2016:

There is no transaction to record under the accrual basis of accounting. So, the profit is zero

As in accrual basis of accounting, whether cash is received or not the transaction should be reported in the books of accounts

3 0

4 years ago

The gdp deflator is used to calculate the inflation rate. True or False

Aleksandr [31]

Answer:

True

Explanation:

The nominal GDP is divided by the real GDP to calculate GDP deflator which is used to calculate the CPI and Inflation rate. So it is true that the GDP delfator is used to calculate inflation rate.

6 0

3 years ago

Why is compound interest preferable to simple interest?

TiliK225 [7]

Answer:

Compound interest pays interest on the principal and the interest

Explanation:

Compound interest is preferred because it calculates interest on the principal amount and the accrued interest. In compounding interest, the interest earned in the period is added to the principal to become the new principal amount. Interest earned at the end of every year will higher than the previous period as the principal amount increases at the beginning of a period.

Interest earned by the compound interest method grows much faster compared to the fixed-rate interest method. Investors wishing to have better returns from their savings will prefer the compound interest method.

3 0

4 years ago