The purpose of the control account is to keep the general ledger nice and clean without any details, yet contain the correct balances to be used in the financial statements.
Answer: 10.11%
Explanation:
The effective annual interest rate on this lending arrangement will be calculated thus:
Interest Paid will be:
= 9% × $21 million
= 0.09 × $21 million
= $1.89 million
Amount Received will then be:
= (21million - 1.89million) - (21million)(0.02)
= $19.11 million - $0.42 million
= $18.69 million
Then, the effective annual rate will be:
= 1.89/18.69
= 10.11%
Therefore, the effective annual interest rate on this lending arrangement is 10.11%.
Answer:
The correct answer is c. greater; increase.
Explanation:
The models follow one another by altering the assumptions about the flexible or rigid nature of the prices determined in the different markets.
• Flexible price: the price varies, increasing when there is excess demand and decreasing when there is excess supply.
• Rigid price: it does not follow the logic of the mentioned variation because it responds to other factors or because although it varies according to the logic described above, it does not do so sufficiently for the market to balance instantly. (IMP .: do not confuse rigid price with constant price).
It should be noted that having unique accounts set up to access patient data is important for standardizing patient identification.
<h3>Who is a patient?</h3>
A patient simply means an individual who is undergoing treatment in a hospital.
Having unique accounts set up to access patient data is important for standardizing patient identification.
Learn more about <em>patient</em> on:
brainly.com/question/25095395
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