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9966 [12]
3 years ago
7

What is the major purpose of a bank reconciliation statement?

Business
1 answer:
lara31 [8.8K]3 years ago
3 0
Purpose of a bank reconciliation statement.
A bank reconciliation statement is used to compare your record to those of your bank to see if there is difference between the two sets of records. The ending balance of your version of cash records is known as the book balance while the bank`s version is known as bank balance. It is common for there to be a difference in the two balances. The results to the differences might be due to overdrawn bank account, bounced checks and overdraft fees. It is important for you to check the difference because there might be substantial variance between the amount you think you have and that the bank thinks you have. In some cases the bank may even elect to close down your account. 
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The CPI tends to A. estimate inflation correctly. B. underestimate the extent of inflation when prices increase rapidly. C. over
CaHeK987 [17]

Answer:

d. overestimate the extent of inflation because it uses fixed weights and ignores substitution of lower priced items for higher priced items

Explanation:

The CPI tends to overestimate the extent of inflation because it uses fixed weights and ignores substitution of lower priced items for higher priced items

7 0
3 years ago
a. is borrowed money invested in start-up businesses and provided by the Small Business Administration b. includes all the money
kolezko [41]

Complete Question:

Venture capital:

Answer:

c. is financing obtained from investment firms that specialize in financing small, high-growth companies.

Explanation:

Venture capital can be defined as a form of financing through which an investor provide capital for small, early-stage and high-growth companies in exchange for an equity stake or partial ownership of the company.

This ultimately implies that, venture capital is a type of financing obtained from investment firms that mainly specialize in providing finance for small, high-growth companies. Also, these small, high-growth companies or businesses are typically owned by individuals or a small group of people.

<em>In conclusion, venture capital involves making capital investment in a small business with high growth potential in exchange for partial ownership or an equity stake in the business.</em>

8 0
4 years ago
Pemco Enterprises sells annual membership to its shooting lodge. The memberships cost $240 each. On January 1, Pemco sold 2,000
jenyasd209 [6]

Answer:

Option C. $480,000

Explanation:

The reason is that the consideration (Services of memberships which has monetary value) of the contract to deliver the subscribers has been delivered by the Pemco Enterprise which was active their member account and let them enjoy the services which they provide so the sales would be the amount that the company is legally entitled to receive after delivering the consideration of the contract and is $480,000 ($260 * 2000 memberships).

5 0
4 years ago
If the Fed was worried about overheating (GDP growing too fast, inflationary pressures building), then the appropriate open mark
oksano4ka [1.4K]

Answer:

The answer is false

Explanation:

Open market operations is a situation in which the Federal purchases and sells U.S. Treasury securities on the open market in order to regulate the supply of money in the economy.

If the Fed purchases securities in the open market, this increases the money supply in the economy. This is done when the economy is having low activities i.e economic hardship. Interest rate will be and if the Fed sells securities in the open market, it reduces the supply of money in the economy. This is done when the economy is overheating.

8 0
4 years ago
Which estimating technique decomposes the work into lower, more detailed pieces, preferably the lowest level of WBS work element
elixir [45]

Answer: (C) Bottom-up estimating

Explanation:

The bottom-up estimating is one of technique used by the manager or lead of the project department in the project management process.

By using this technique the manager makes an estimated process for assigning the different types of task in project management and it also divide the task into the different groups so that they work done more efficiently and accurately.

According to the given question, the bottom-up estimating technique are used for decomposes the work into the detailed format.  

Therefore, Option (C) is correct.

4 0
3 years ago
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