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Nitella [24]
2 years ago
8

Select the correct answer. What is the first step in financial planning? A. maintaining a log of all your expenses B. understand

ing what you want C. preparing a balance sheet D. attaching a goal cost to every goal E. attaching a time frame to every goal
Business
1 answer:
Mariulka [41]2 years ago
6 0

Answer:B

Explanation:

If you don't know what you want you can't do anything else

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Mr. Wise is retiring In 25 years He would like to accumulate $1,000.000 for his retirement fund by then He plans make equal mont
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Answer:

$532.24

Explanation:

Since Mr. Wise will be making monthly payments for the period of 25 years in order to accumulated the $1,000,000 at the end of 25 years, therefore, the future value of annuity shall be used to determine the monthly payments to be deposited by Mr Wise. The formula of future value of annuity is given as follows:

Future value of annuity=R[((1+i)^n-1)/i]

In the given scenario:

Future value of annuity=amount after 25 years=$1,000.000

R=monthly payments to be deposited by Mr Wise=?

i=interest rate per month=12/12=1%

n=number of payments involved=25*12=300

$1,000,000=R[((1+1%)^300-1)/1%]

R=$532.24

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Which of the following best describes a trial balance?
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A

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In the accounting process extracting a trial balance is the final step.

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The difference between errors in the financial statemetns as compared to fraud is
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Hello there!

There is quite a HUGE difference between these both. When being frauded or making a fraud, this would also be known as stealing money.

But when making a mistake in a statement, they can be things resolved faster than if a person were to steal money. When making this mistake, you could resolve this by explaining why this was a mistake and also what could you do to fix it as well.

Both of these kind of acts are seriously two major different things, they have nothing in common.

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