Answer:
The correct answer is C
Explanation:
Savings account is the kind of deposit account which is held at the retail bank and that pays the interest but cannot be use directly as money is at the narrow sense of the medium of exchange.
This account help the customers or people to set aside the portion of their liquid assets when earning a monetary return. And this account does not charge any fee for depositing as well as cashing the paycheck into the saving account.
Therefore, the statement which is false is that the customer have to pay a fee for depositing or cashing.
Answer:
D. financial accounting information.
Explanation:
Financial reporting can be defined as the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP). These accounting informations are prepared and made available for investors and other external agencies. Examples of financial statements includes Balance sheet, cash-flow and income statement.
In this scenario, Connie is analyzing the financial statements of MegaMart and Bullseye Company. She wants to invest in one of the companies and is trying to decide which company has the better past performance.
Hence, Connie is examining the financial accounting information.
Answer:
option (c) $167,597.77
Explanation:
Data provided in the question:
Monthly mortgage payment = $900
Duration of loan, n = 30 years = 360 months
Interest rate = 5%
Monthly rate of interest = 5% ÷ 12 = 0.4167% = 0.004167
Now,
Mortgage loan can he afford
= Monthly mortgage payment × [ (1 - ((1 + r)ⁿ)⁻¹ ) ÷ r ]
= $900 × [ (1 - ((1 + 0.004167)³⁶⁰)⁻¹ ) ÷ 0.05 ]
= $167,597.77
Hence,
The answer is option (c) $167,597.77
Answer and Explanation:
The preparation of the contribution margin income statement for the year is presented below:
Sales (45,000 units × $16 per unit) $720,000
Less: variable cost (45,000 units × $180,000 ÷ 30,000 units) -$270,000
Contribution margin $450,000
Less: fixed cost -$300,000
Net operating income $150,000
The answer to that would be B.
