All categories

3 years ago

Which statement best describes the two billing cycle method that some credit card companies use

Business

1 answer:

Alborosie3 years ago

3 0

Answer:

Double-cycle billing is a method used by creditors, usually credit card companies, to calculate the amount of interest charged for a given billing period. It takes into account not only the average daily balance of the current billing cycle (usually one month), but also the average daily balance of the previous cycle.

Explanation:

idk...my mom helped me answer this for you

You might be interested in

The accounting process begins with: Multiple Choice Analysis of business transactions and source documents. Preparing financial

Kitty [74]

Answer:

The accounting process begins with Analysis of business transactions and source documents

Explanation:

The Accounting process begins by identifying the transactions and events that occurred in the business.

After identification, the events and transactions have to be recorded in appropriate Account using the proper books of entry.

A list of Balances known as the Trial Balance is then computed when the Accounts are closed.

The Trial Balance is then used to prepare financial statements.

Financial Statements are then Analysed to assist various stakeholders and users of financial statements to make decisions.

6 0

3 years ago

Read 2 more answers

The financial statements of a company are the primary sources of information that enable us to communicate the financial results

maks197457 [2]

Answer: both internally and externally

Explanation: In simple words, financial statements refers to the group of reports and statements that are prepared by an organisation for communication its financial performance and postilion to its internal and external stakeholders.

It constitutes balance sheet, cash flow statement and income statement etc.

4 0

3 years ago

The Optical Scam Company has forecast a sales growth of 20 percent for next year. The current financial statements are shown her

Stolb23 [73]

Answer:

The external financing needed for next year is $1,766,004.

Explanation:

The external financing needed for next year can be calculated using the following formula:

External financing needed = ((Total assets / Sales) * Change in sales) - ((Short-term liabilities / Sales) * Change in sales) - ((Projected sales * Profit margin) * (1 - Dividend payout ratio)) ................... (1)

Where;

Total assets = $24,705,000

Sales = $30,500,000

Change in sales = Sales * Sales growth rate = $30,500,000 * 20% = $6,100,000

Short-term liabilities = Accounts payable = $6,405,000

Projected sales = Sales * (1 + Sales growth rate) = $30,500,000 * (1 + 20%) = $36,600,000

Profit margin = Net income / Sales = $2,630,550 / $30,500,000 = 0.0862475409836066

Dividend payout ratio = Dividends / Net income = $1,052,220 / $2,630,550 = 0.40

Substituting all the values into equation (1), we have:

External financing needed = (($24,705,000 / $30,500,000) * $6,100,000) - (($6,405,000 / $30,500,000) * $6,100,000) - (($36,600,000 * 0.0862475409836066) * (1 - 0.4))

External financing needed = $1,766,004

Therefore, the external financing needed for next year is $1,766,004.

8 0

3 years ago

If a company creates and maintains a culture that encourages employees to bring new ideas into the company, it is most likely to

mrs_skeptik [129]

Answer: Option E

Explanation: Differentiation strategy refers to the strategy which a company uses to introduce a unique kind of product to the market so that a separate customer base could be prepared. This strategy is implemented to get competitive advantage over the others.

In the given case, company is encouraging its employees to bring new ideas. Hence they want some innovation for the betterment of the company.

Hence we can conclude that the company is using differentiation strategy.

3 0

3 years ago

Read 2 more answers

rguments for adopting a policy rule include A. discretion avoids the straitjacket that would lock in the wrong policy if the mod

erik [133]

Answer:

C. discretionary policies pursue overly expansionary monetary policies to boost employment in the short run but generate higher inflation in the long run.

Explanation:

Arguments for adopting a policy rule include;

- discretionary policies pursue overly expansionary monetary policies to boost employment in the short run but generate higher inflation in the long run.

- discretion enables policymakers to change policy settings when an economy undergoes structural changes.

- discretion avoids the straightjacket that would lock in the wrong policy if the model that was used to derive the policy rule proved to be incorrect.

- policy rules can be too rigid because they cannot foresee every contingency.

- policy rules do not easily incorporate the use of judgment.

3 0

4 years ago