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2 years ago

What is true about credit unions?

Business

2 answers:

Vesnalui [34]2 years ago

8 0

<span>All of the above are true.</span>

Alexandra [31]2 years ago

6 0

Answer: All of the above are true.

Explanation:

Credit unions refer to a financial institution owned by a group of people who are connected by common bond in order to provide traditional banking system. They offer savings account and are established to promote the well-being of their members. The profits generated by them are given back to the members in the form of reduced fees, higher savings rates and lower loan rates. The money saved in the savings account is used for providing loans to other members. The interest which they charge on loans to members is used to generate income for the credit union.

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At a price of $5, Sam buys 10 units of a product; when the price increases to $6, Sam buys 8 units. Martha says Sam's demand has

forsale [732]

Based on the information given, Martha is incorrect. Sam's quantity demand has decreased.

<h3>What is demand?</h3>

Demand means the quantity of a good and services that consumers are willing and able to buy at various prices during a given period of time

In this case, Martha is incorrect. This is because Sam's quantity demanded has decreased, and his demand has not changed.

Learn more about demand on:

brainly.com/question/1245771

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1 year ago

Q 6.3: Mia received a credit card offer in the mail. The credit card has an annual percentage rate of 26%. What is the approxima

lbvjy [14]

Answer:

D : 2.17%.

Explanation:

The 26% is an APR(Annual Percentage Rate). This is a quoted rate that a credit card company charges . It is also known as the nominal rate.

Since the question is asking for a monthly rate, use the 26% and convert it into monthly rate. We have 12 months in a year; meaning, we will divide the nominal rate by 12;

Monthly rate = APR / n

APR = 26% or 0.26 as a decimal

n = compounding periods = 12

therefore, Monthly rate = 26% /12 = 2.17%

5 0

2 years ago

Taxes represent __________ of the business. Multiple Choice an equity liability a cash inflow a cash outflow an accounts receiva

Eduardwww [97]

The taxes that are being paid by a business firm represents: C. a cash outflow.

Taxation can be defined as the involuntary and compulsory fees that are usually levied on individuals or business firms (entities) by the government, so as to generate revenues which are used in funding public institutions and activities.

Basically, these taxes that are being paid by individuals or business firms (entities) is considered as a cash outflow because it represents money that are flowing out of their accounts.

In conclusion, an amount of money that is flowing out of an account such as taxes is referred to as a cash outflow.

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2 years ago

Selling. general, and administrative expenses were $80,000, net sales were $390,000, interest expense was $16.000: research and

elixir [45]

Answer:

<u>The correct answer is C. US$ 30,000</u>

Explanation:

1. What was the operating income for the period?

Operating income = Net sales - Cost of goods - Operational expenses

Operational expenses on this question are:

Selling. general, and administrative expenses
Interest expenses
Research and development expenses
Income tax expense

According to the information provided, we have then:

Operating income = 390,000 - 220,000 - 80,000 - 16,000 - 34,000 - 10,000

Operating income = 390,000 - 360,000

Operating income = 30,000

<u>The correct answer is C. US$ 30,000</u>

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2 years ago

If the company allocates overhead based on direct labor cost, what are the total actual manufacturing overhead costs

Ahat [919]

Answer: $228,900

Explanation:

Manufacturing overheads = Factory depreciation + Factory utilities + Indirect labor + Factory rent + Factory property taxes + Indirect materials

= 65,600 + 30,900 + 22,600 + 47,800 + 28,700 + 33,300

= $228,900

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2 years ago