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alisha [4.7K]
2 years ago
5

Currency Transaction Reports mandated by Anti-Money Laundering rules require a report to be filed in which of the following situ

ations?
A) Throughout the course of the trading day, an investor performs several cash transactions in his account which total $12,000.
B) Activities in a customer's account involve a cashier's check in the amount of $3,000 and cash transactions in the account of $8,000.
C) Activities in a customer's account involve a personal check in the amount of $1,500 and cash transactions in the account of $7,000.
D) In one transaction, a customer performs a cash transaction totaling over $9,000.
Business
1 answer:
oksian1 [2.3K]2 years ago
3 0

Answer: A -  Throughout the course of the trading day, an investor performs several cash transactions in his account which total $12,000.

Explanation: Currency Transaction Reports mandated by Anti-Money Laundering rules require a report to be filed when any of the below stated transactions occur in an account.

1. If the daily aggregate cash transactions of an individual exceeds $10,000

2. if 2 different transactions within a 12 months period seems related and their aggregate exceeds $10,000 must be reported.

3. Any suspicious customers action that suggest that they are laundering money or otherwise violating federal criminal laws and committing wire transfer fraud, check fraud, or mysterious disappearances should be reported

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The balance sheet of Innovative Products reports total assets of $570,000 and $770,000 at the beginning and end of the year, res
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Answer:

$201,000

Explanation:

The computation of net cash flows from operating activities is shown below:-

Beginning Total Assets            $570,000

Ending total assets                   $770,000

Average Total Assets in use    $670,000

($570,000 + $770,000) ÷ 2

Cash return on Asset                    30%

Cash Flow from operating activities  

Average Assets × 25%               $201,000

($670,000 × 25%)

Therefore the Cash Flow from operating activities is $201,000

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2 years ago
The human genome project, which got under way in 1990, is an international effort to ________.
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Determine the sequence of the human DNA.

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2 years ago
Suppose a price floor on sparkling wine is proposed by the Health Minister of the country of Vinyardia. What will be the likely
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Answer:

The options for this question are the following:

A. Quantity demanded will decrease, quantity supplied will increase, and a shortage will result.; B. Quantity demanded will increase, quantity supplied will decrease, and a surplus will result.; C. Quantity demanded will decrease, quantity supplied will increase, and a surplus will result; D. Quantity demanded will increase, quantity supplied will decrease, and a shortage will result.

The correct answer is C. Quantity demanded will decrease, quantity supplied will increase, and a surplus will result.

Explanation:

There is a strong correlation between pricing (at prices higher than the equilibrium price) and the creation of excess supply. Following the analysis of supply and demand, if we start from an initial equilibrium situation (where the quantity demanded and supplied are equal) and the authority decides to set a much higher price, the quantity demanded of the product will decrease and, on the other hand, the quantity supplied will increase, so producers will want to sell more than consumers want to buy. The previous problem will be solved if the authority decides to lower the price of the product, since this encourages consumers to buy more and bidders to produce less.

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The price of ice cream increases. In 1 or 2 sentences, explain how and why this affects the quantity of ice cream cones demanded
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6 0
2 years ago
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Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 61 percent complete). Start
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Answer:

Part (a)

Equivalent units for materials using the weighted-average method is 70500 units

Part (b)

Equivalent units for conversion costs using the weighted-average method is 52735 units

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                              Transferred Out(eqiv)    Ending Inventory(equiv)     Total

Materials                      49600                              20900                         70500  

Conversion Cost         49600                                3135                           52735

<u><em>Equivalent units for materials</em></u>

Transfered Out Units are 100% complete in terms of materials. Hence 49600 equivalent units.

Ending Inventory is 100% complete in terms of materials hence 20900 equivalent units.

<u><em>Equivalent units for Conversion Costs</em></u>

Transfered Out Units are 100% complete in terms of Conversion Costs. Hence 49600 equivalent units.

Ending Inventory is 15% complete in terms of materials hence 3135 equivalent units.

5 0
3 years ago
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