The correct answer is: B. The finance company is extending credit to a buyer.By agreeing to loan money to a buyer, the finance company is extending credit to a buyer. Once credit is extended to the buyer and if the buyer uses the credit to buy the washer and dryer, the money borrowed then becomes a debt. The finance company may be saving the buyer money, but that cannot be determined from the example. I got this right in U.S.A Test Prep hope this helps! :) <u>[plz reward brainlyiest <3]</u>
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Answer:
e) sales should be recorded when the earnings process is virtually completed and the value of the sale can be determined.
Explanation:
The recognition principle states that sales should be recorded when the earnings process is virtually completed and the value of the sale can be determined. Recognition principle is one of the principle defined by the Generally Accepted Accounting Principles (GAAP).
Basically, it states that revenues are to be indicated on the income statement during the period when they are earned but not the period in which they are received or collected. The recognition principle is in accordance or in tandem with the accrual basis of accounting and not the cash basis of accounting.
<span>
Nipost is the abbreviation for Nigerian Postal Service. </span>
<span /><span>NITEL is Nigerian Telecommunications. </span>
<span>Hope this helps. :)</span>
Answer: 5.
Explanation:
Given that,
If there are $100 deposited in an account, then Tuscan bank required to keep $20 as a reserves.
Therefore, required reserve ratio (rr) is 20%.
Money multiplier =
=
= 5
Therefore, the current money multiplier is 5.