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3 years ago

Select the correct answer from each drop-down menu.

Business

1 answer:

denpristay [2]3 years ago

5 0

Answer:

bounced check; insufficient funds.

Explanation:

A bank reconciliation mainly computed by an accountant, gives the difference between the balance in relation to the bank statement and the cash balance with respect to the accounting records of the depositor in a particular financial institution.

In Financial accounting, a bank statement can be defined as an official summary or list of financial transactions, which typically comprises of the amount of money that has been paid into or withdrawn from an account by an individual or business entity over a specific period of time.

Generally, a bank statement usually has the following information charges, deposits, withdrawals, including the opening and closing balance for each account held at a given the period. Thus, bank customers are advised to frequently reconcile their records with bank statements in order to prevent non-sufficient funds (NSF) checks.

A non-sufficient funds (NSF) checks refers to a check that is not honored by the bank of the issuer due to the fact that the individual or business entity has an insufficient fund. It is also known as a bounced or bad check

Similarly, a bounced check is a check that you have written but you cannot pay due to insufficient funds in your bank account. Thus, the bank wouldn't honour a bounced check and as such no money would be paid to the holder.

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The Sarbanes-Oxley Act in 2002 was created to protect consumers against false advertising by monopolies.

Igoryamba

The statement "The Sarbanes-Oxley Act in 2002 was created to protect consumers against false advertising by monopolies." is false.

Sarbanes-Oxley Act placed the obligation of responsibility for a company's financial reporting squarely on the shoulders of its top executives in order to safeguard investors from corporate accounting fraud.

It required chief executive officers (CEOs) and chief financial officers (CFOs) to personally attest to the correctness of the information in financial reports and to affirm that controls and procedures were in place to evaluate and verify that accuracy.

In reality, CEOs and CFOs had to personally certify that financial reports complied with Securities and Exchange Commission(SEC) rules by signing them. Failure to comply with this might result in fines of up to $15 million and 20-year prison terms.

Hence, the given statement is false.

Learn more about the Securities and Exchange Commission:

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3 0

2 years ago

The table displays price and quantity information for two vehicle models produced by Ford Motor Company, the F-series trucks and

zlopas [31]

Answer:

a. The nominal GDP 2016 = $43.96 billion

The real GDP 2016 = $43.96 billion

The nominal GDP 2017 = $50.46 billion

The real GDP 2017 = $47.36 billion

b. The growth rate is of nominal GDP is 14.79%

c. The growth rate is of real GDP is 7.73%

d. The growth rate in prices is 6.55%

e. The increase in nominal GDP in part a is due to a change in both quantity and prices

Explanation:

a. The amount contributed by Ford to U.S. real and nominal GDP from the sales of the two models 2016 and 2017 are given as follows;

The nominal GDP 2016 = $24,485 × 307,069 + $44,400 × 820,799 = $43.96 billion

The real GDP 2016 = The nominal GDP 2016 = $43.96 billion

The nominal GDP 2017 = $24,645 × 308,296 + $47,800 × 896,764 = $50.46 billion

The inflation for Escape = ($24,645 - $24,485)/$24,485× 100 = 0.65%

GDP deflator for Escape = 100 + 0.65 = 100.65

The inflation for F-series = ($47,800 - $44,400)/$44,400× 100 = 7.66%

GDP deflator for F-series = 100 + 7.66 = 107.66

The real GDP 2017 = ($24,645 × 308,296)×100/100.65 + ($47,800 × 896,764)×100/107.66 = $47.36 billion

b. The growth rate is of nominal GDP is ((The nominal GDP 2017 - The nominal GDP 2016)/(The nominal GDP 2016)) × 100

The growth rate is of nominal GDP = (($50.46 billion - $43.96 billion)/$43.96 billion) × 100 = 14.79%

c. The growth rate is of real GDP is ((The real GDP 2017 - The real GDP 2016)/(The real GDP 2016)) × 100

The growth rate is of real GDP = (($47.36 billion - $43.96 billion

)/$43.96 billion) × 100 = 7.73%

d. The growth rate in prices is given as follows;

Price Deflator = (Nominal GDP/(Real GDP))×100

Price Deflator = ($50.46 billion/$47.36 billion)×100 = 106.55

The growth rate of prices = 106.55 - 100 = 6.55%

e. The increase in nominal GDP in part a is due to a change in both quantity and prices

Quantity increased from 307,069 in 2016 to 308,296 in 2017 for Escape SUVs

Quantity increased from 820,799 in 2016 to 896,764 in 2017 for F-series trucks

Price increased from $24,485 in 2016 to $24,645 in 2017 for Escape SUVs.

Price increased from $44,400 in 2016 to $47,800 in 2017 for F-series trucks.

3 0

3 years ago

On March 31 a company needed to estimate its ending inventory to prepare its first quarter financial statements. The following i

lukranit [14]

Answer:

Using the gross profit method, the cost of goods sold would be:

$42,500

Explanation:

Gross margin ratio of the company is 15%. Refer the formula:

Gross margin = Gross profit/Revenue (or net sales)

= (Net sales- Cost of good sold)/Net sales

Using the gross profit method and from the formula,

Cost of good sold = Net sales - Net sales x Gross margin

= Net sales x (1 - Gross margin)

= $50,000 x (1-0.15) = $50,000 x 0.85 = $42,500

6 0

4 years ago

Answer the questions below regarding the heating of a house in the Midwestern United States. Assume the following.

Mandarinka [93]

a. The calculation of the requirements is as follows:

i. The cubic feet of natural gas required to heat the house for one winter is 160,000 (160,000,000/1,000).

ii. The cost of heating the house for one winter is $800 (160,000,000/1,000,000 x $5).

b. To conserve heat energy, lowering the cost of heating the house, the residents could take the following actions:

Turn off lights, computers, televisions, video games, and other electrical equipment when not in use.
Buy equipment with less energy consumption (that is, energy-saving appliances).
Adopt renewable energy sources.

c. i. Two pollutants resulting from burning coal are <u>Sulfur dioxide (SO2) and Nitrogen oxides (NOx)</u>.

ii. One method to reduce the impact of coal energy is carbon capture. Carbon capture separates the CO2 and recovers it for underground permanent storage or sequestration.

<h3>Data and Calculations:</h3>

Square feet of the house's living space = 2,000

Heat per square foot = 80,000 BTU

Total heat required = 160,000,000 BTU (2,000 x 80,000)

Cost of natural gas per thousand cubic feet = $5

Cubit foot of natural gas = 1,000 BTUs of heat energy

Total cost of heating = $800 (160,000,000/1,000,000 x $5)

Learn more about the cost of heating here: brainly.com/question/3858176

7 0

3 years ago

Suppose Intel's stock has an expected return of 20.0% and a volatility of 3.0%, while Coca-Cola's has an expected return of 7.

d1i1m1o1n [39]

Answer:

a. The portfolio weights that remove all risk is 50% .

b. The risk-free rate of interest in this economy is 13.5%

Explanation:

The formula for standard deviation of a portfolio, of which i cannot type:

a. If we let sigma p = std. deviation of portfolio

rho 1,2 = correlation

if sigma = 0 and rho = -1, then the first equation can be re-written as :

0 = w1^2 * s1^2 + w2^2 * s2^2 + 2 * w1 * w2 * s1 * s2 * -1

0 = (w1s1 - w2s2)^2

w1s1 = w2s2

w1 * 0.03 = w2 * 0.03

w1 = w2 = 50%

Therefore, The portfolio weights that remove all risk is 50% .

b. Expected return of the portfolio = 0.5*20% + 0.5*7%

= 13.5%

This portfolio has zero risk, risk free rate = 13.5%

Therefore, The risk-free rate of interest in this economy is 13.5%

8 0

3 years ago