Answer: This statement is FALSE
Explanation:
Price Ceiling is the maximum price fixed by government , usually less than equilibrium price to make necessity goods affordable to max people.
Producer Surplus is the difference between prevailing price & minimum price needed to induce producers to supply . Diagramaticaly / Graphicaly , it is the vertical difference between supply curve & price level
Implying Ceiling Imposition , the price gets reduced . Assuming unchanged Supply curve , the difference between price & supply curve reduces .
Hence , Producer Surplus falls
Banks get money to lend to borrowers from other people that keep their money in the bank. Its called trustfund.
Current monthly cash inflows = $4,900
Current monthly cash outflows = $3,650.
Monthly Rent = $650
Monthly savings = 10% of their cash inflows = 10%...
It is a false statement that a debit is always a negative entry under the double-entry system of accounting,
<h3>What is the double-entry system?</h3>
In accounting, this refers to the system for recording transactions based on recording increases and decreases in accounts so that debits equal credits.
Hence, the double-entry system requires that each transaction must be recorded in at least two different accounts.
Read more about double-entry system
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To calculate the maturity of this note,
we use a simple formula first to get the interest which is:
I = Principal (amount owed) X Interest Rate (%) X Time (length of loan)
The days is only divided by only 360 days instead of 365 days. This is because commercial loans often use 360-day calendar years instead of 365-day calendar years. But not all banks used this as their calendar year,
I = Prt
= ($80000) (0.05) (120/360)
= ($80000) (0.01666666666)
I = $ 1,333.33
To get the maturity value, the formula is: M = Interest + Principal
M = I + P
= $1,333.33 + $80,000
= $81,333.33 or $81,333, letter C
