The answer to the sentence above is false based on the transaction above. Account Receiveable is an asset account which has "debit" as its natural balance. Recording credit sales will increase the account receivable balance and sales balance, thus an increase in account receivable balance occurs on the debit side.
Answer:
Medlock will receive $2,940
Explanation:
Credit terms of 2/10, n/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after sale with net credit period of 30 days.
According to given data
Sales = $3,000
As the payment is made within discount period, so discount will be availed
Discount = $3,000 x 2% = $60
Now deduct the discount from due balance to calculate the amount received.
Amount Received = $3,000 - $60 = $2,940
(C ) Improvements in worker health from better nutrition
Robert Fogel, an economic historian, and Noble prize winner for Economics, is best known for suggesting that a significant factor in long-run economic growth is improvements in worker's health from better nutrition, he was of the opinion that malnourished workers cannot perform manual labor, because they don't have the strength and stamina, and this will affect productivity. He believed that as nutrition improve, so will worker's productivity.
Answer:
E. Allows savers to spread their money among many financial investments.
C. Provides an easy method of exchanging a financial security for money.
D. Collects and communicates information about borrowers to savers
Explanation:
The financial system provides several key services to both borrowers of funds as well as the lenders of funds apart from transfering excess funds from lenders/households to the firms in need of those funds (borrowers). These include-
The facility of allowing savers or lenders to invest their funds among many different financial investments instead of just one.
It provides information about the borrower to the lender.
A financial security can be easily exchanged in terms of money by these financial institutions in favour of the customer.
Therefore, E, C and D are correct
Most likley B but it could be A, 50/50 on this one, its def not C or D.
