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KiRa [710]
3 years ago
6

Carlos is looking to open an account at a bank, but wants to avoid as many fees as possible. Which would not help minimize fees

paid to a bank?
A. checking with the bank to know what fees it has so he can avoid them

B. only using his bank's ATMs to avoid ATM fees

C. avoiding the use of a check register

D. comparing various banks' fees and services
Business
1 answer:
Nadusha1986 [10]3 years ago
4 0

Answer:

C. avoiding the use of a check register

Explanation:

In order to avoid the extra fee , Carlos can follow the steps as -

1. Consult with the bank to get to know the fees , so as to avoid it .

2. one of the good method , to avoid fees , is to only use ATM of the bank to withdraw cash , so as to avoid the extra charges that are deducted by using other bank's ATM .

3. By comparing the services and fees of all the bank , Carlos , can save extra bucks .

hence , the option , which would not help to reduce the fees is ( C ) .

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Why is the separating of recordkeeping from the custody of assets a limitation of an internal control system?
yanalaym [24]

The separating of recordkeeping from the custody of assets a limitation of an internal control system because:

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<h3>What is meant by Internal Control?</h3>
  • Internal controls are the mechanisms, rules, and procedures implemented by a corporation to ensure the integrity of financial and accounting information, promote accountability, and stop fraud.
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6 0
2 years ago
You will receive $5,000 a year in real terms for the next 5 years. Each payment will be received at the end of the period with t
photoshop1234 [79]

Answer:

$20,229.5

Explanation:

Given:

Amount to be received = $5,000

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nominal discount rate = 10.725%

inflation rate = 3 percent

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Using the Fischer's relation, we have

1 + Nominal rate = ( 1 + Real rate ) × ( 1 + Inflation )

on substituting the values, we get

( 1 + 10.725% ) = ( 1 + Real rate ) × ( 1 + 3% )

or

1.10725 = ( 1 + Real rate ) × 1.03

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or

Real rate = 1.075 - 1 = 0.075 or 7.5%

Thus,

Present Value of an ordinary annuity that makes $5000 every year payment for 5 years will be calculates as:

Present value = Monthly payment × [\frac{(1-(1+r^{-n})}{r}]

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3 0
3 years ago
Lyle’s manager just handed him a list of goals for the year. Because Lyle had no say in setting these goals, he isn’t sure that
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This company was incorporated as a new business on January 1, 2019. The company is authorized to issue 50,000 shares of $5 par c
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Answer:

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Preferred stock = 2,000 x $30 =               <u>$60,000</u>

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Add: Net income at 31 December, 2019    <u>$375,000</u>

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<u />

Explanation:

Total capital stock is the aggregate of par value of common stock, par value of preferred stock and net income.

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