The investment adviser would not be permitted to accept securities from a customer that are registered in customer name if administrator prohibit him from taking custody of customer, as per Securities and Exchange Commission.
As per the Securities and Exchange Commission, The Commission has amended the custody rule in accordance with the Investment Advisers Act of 1940. The amendments modernize the rule by bringing it in line with modern custodial practices and requiring advisers who have custody of client funds or securities to keep those assets in the custody of broker-dealers, banks, or other qualified custodians. The amended rule also defines "custody" and illustrates situations in which an adviser has custody of client funds or securities. The amendments are intended to improve client asset protection while reducing the burden on advisers who have custody of client asset.
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Answer:
Stand alone selling price of the software using expected cost plus margin approach = $65 + ( 50% * 65)
= $65 + $32.5 = $97.5
Explanation:
Answer: Debit Account Payable $1600, Credit Cash $1600
Explanation:
If the perpetual inventory system, and purchases are recorded through the use of a gross method, the correct journal entry to record the payment on July 28 will be to Debit Account Payable $1600, and then Credit Cash $1600.
In this case, we should note that we don't need any adjustment for discount. This is because the payment made was on the 28th of July.
1. to help government planners make the best decisions
2. investors believe the economy is going to continue to grow
