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antoniya [11.8K]
3 years ago
5

Review the following statements regarding a petty cash fund used in a business. Select the one that is correct. Multiple choice

question. The cashier of a fund will write checks for small payments like postage, supplies and deliveries. Only the petty cashier is responsible for paying cash from the fund. A petty cash fund is controlled by top management. A check written against the fund is cashed when the fund is replenished.
Business
1 answer:
valentinak56 [21]3 years ago
3 0

Answer:

Only the petty cashier is responsible for paying cash from the fund.

Explanation:

A petty cash fund can be regarded as small amount of cash that is kept on hand or kept in a locked drawer which could be used in payment for minor expenses. These expenses could be office supplies expenses or reimbursements. There should be periodic reconciliations for a petty cash fund, and the transactions should also be recorded on the financial statements. As regards to petty cash fund used in a business, Only the petty cashier is responsible for paying cash from the fund.

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A company issued 6%, 10-year bonds with a face amount of $90 million. The market yield for bonds of similar risk and maturity is
Leviafan [203]

Answer:

The bonds sold at: $122,106,600 dollars

Explanation:

We will calculate the present value of the coupon payment and the maturirty at market rate of 7%

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C         2.7(90 millions x 6% / 2 payment per year)

time 20  10 years and 2 payment per year

discounted at market rate: 7% divide by 2 payment per year:  0.035

2.7 \times \frac{1-(1+0.035)^{-20} }{0.035} = PV\\

PV 76.3551

Then present value of maturity:

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   90.00

time            10 years

rate             0.07

\frac{90}{(1 + 0.07)^{10} } = PV  

PV   45.75

PV coupon  $76.3551

PV maturity  $45.7514

Total  $122.1066

7 0
3 years ago
During her womanhood ceremony, Dasheena Cochise spends 4 days being tested and ultimately being renamed and remade as a member o
lara [203]

Answer:

The statement that is not true of this ceremony is:

F. it is essentially about the individual rather than the community

Explanation:

The focus of this communal rite of passage is not the individual but the community because during the rite, the sense of the individual is replaced by the sense of the community.  It instils in the initiates a sense that they are no longer individuals but members of the community with some rights and privileges.  Community values are communicated through a sophisticated system of beliefs and practices that affirm sacred cycles.

6 0
3 years ago
Whole Nature Foods sells a gluten-free product for which the annual demand is 5000 boxes. At the moment it is paying $6.40 for e
prisoha [69]

Answer:

the answer is =32291.67.

The firm should take the advantage of the new quantity as the total cost is lesser as compared with the  old supplier. the firm can save $340 by approximately taking the advantage of the new quantity discount.

Explanation:

Solution

Given that:

The Annual demand D = 5000 boxes

The Cost C = $6.4 per each box

The Carrying cost H = 25% of the unit cost = 0.25*6.4 = 1.6

The ordering costs S = $25.00

Now,

EOQ =√2DS/H

EOQ =√(2*5000 * 25)/1.6

Thus,

EOQ =Q = 395.28

The Total cost = DC + (Q/2)H + (D/Q)S

= 5000*6.4 + (395.28 /2) 1.6 + (5000/395.28)25

Then,

T = 32000 + 316.23 + 316.23

= 32632.46

So,

The new supplier has offered to sell the same item for the amount of  $6.00 if Q = 3,000 boxes

Hence,

The total cost = 5000 * 6 + (3000/2)1.5 + (5000/3000)25

= 30000 + 2250 + 41.67

= 32291.67

Therefore, The firm should take the  advantage of the new quantity as the total cost is lesser as compared with the  old supplier. the firm can save $340 by approximately taking the advantage of the new quantity discount.

7 0
3 years ago
17. What action is the Commission allowed to take if it has cause to believe that a licensee is about to violate escrow account
OleMash [197]

The Commission can sue to enjoin any violation action.

Before money or assets are transferred from one party to another in a transaction, a neutral third party is said to be keeping them. This third party is referred to as escrow. Until both the buyer and the seller have complied with the terms of the contract, the third party keeps the money.

Escrow is a legal term that refers to a financial arrangement in which a third party holds an asset or money on behalf of two other parties who are carrying out a transaction. The escrow agent is in charge of escrow accounts. Only after certain contractual duties have been fulfilled does the agent release the assets or funds. Escrow can be used to hold several types of assets, including cash and securities.

To know more about escrow refer to:

brainly.com/question/15703254

#SPJ1

3 0
2 years ago
What tools manage formatting for certain types of documents, including font choices, spacing, and margins?
nekit [7.7K]

Answer:

I think its stylistic

Explanation:

because style is related to format and those are like formatting.

Hope this helps :)

8 0
3 years ago
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