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2 years ago

Explain the importance of reconciling the bank at set dates

Business

1 answer:

zmey [24]2 years ago

8 0

Answer:

The goal of the bank reconciliation process is to find out if there are any differences between the two cash balances. ... A monthly reconciliation helps to catch and identify any unusual transactions that might be caused by fraud or accounting errors, especially if your business uses more than one bank account.

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A tire manufacturer has recently discovered that numerous lots of tires

Ugo [173]

Answer:

A. The Manufacturer

Explanation:

A PEXXX

5 0

2 years ago

Hayley, from California, arrived in Saudi Arabia and immediately noticed that the way Saudi men treat women is vastly different

Jet001 [13]

Answer:

The answer is 1. Culture shock

Explanation:

What is culture shock?

According to Merriam-Webster, culture shock is defined as the sense of confusion and uncertainty sometimes with feelings of anxiety that may affect people exposed to an alien culture or environment without adequate preparation.

With the definition above, it is therefore safe to say that, in the case of Hayley feeling uncomfortable and disoriented in a new environment, she is experiencing Culture Shock.

4 0

3 years ago

Hank purchased a $28,000 car two years ago using an 8 percent, 5-year loan. He has decided that he would sell the car now, if he

muminat

Answer:

$18,117.58

Explanation:

the question requires that we find the minimum price Hank would need to receive his first car.

loan = $28,000

rate = 0.08/12 = 0.0067

the monthly payment can be calculated as:

loan /[0.0067/1-(1/(0.0067)^60))]

= 28000/[1-1/(1.0067^60)/0.0067]

= 28000/(1-(1/1.0067)^60)/0.0067

= $567.74

The minimum price can be calculated as:

pmt = 567.74 x [(1-(1/1.0067^36))/0.0067) x 0.0067

= $18,117.58

8 0

2 years ago

Which is most true of an annual rate of 4% compounded quarterly? A) It is equivalent to 4.4% paid annually. B) It is equivalent

Artemon [7]

Answer:

D) It is equivalent to 4.06% paid annually

Explanation:

Since it is not talking about annuity and simple compound interest, therefore assuming investment value = $100 then interest will be as follows:

Interest for each quarter = $\frac{4}{100} \times \frac{3}{12}$ = 1%

But this 1% will be paid on the compounded value

Interest at end of Quarter 1 = $100 X 1% = $1

Compounded value at end of Quarter 1 = $100 + $1 = $101

Interest at end of Quarter 2 = $101 X 1% = $1.01

Compounded value at end of Quarter 2 = $101 + $1.01 = $102.01

Interest at end of Quarter 3 = $102.01 X 1% = $1.0201

Compounded value at end of Quarter 3 = $102.01 + $1.0201 = $103.0301

Interest at end of Quarter 4 = $103.0301 X 1% = $1.030301

Compounded value at end of Quarter 4 = $103.0301 + $1.030301 = $104.060401

Now net return annually = $4.060401/$100 = 4.06%

Final Answer

D) It is equivalent to 4.06% paid annually

6 0

3 years ago

Factors that can effect prices could include advances in technology, changes in prices of raw materials or new government taxes.

lisov135 [29]

It is true that factors that can affect prices could include advances in technology, changes in prices of raw materials or new government taxes.

6 0

3 years ago