Answer: A - Throughout the course of the trading day, an investor performs several cash transactions in his account which total $12,000.
Explanation: Currency Transaction Reports mandated by Anti-Money Laundering rules require a report to be filed when any of the below stated transactions occur in an account.
1. If the daily aggregate cash transactions of an individual exceeds $10,000
2. if 2 different transactions within a 12 months period seems related and their aggregate exceeds $10,000 must be reported.
3. Any suspicious customers action that suggest that they are laundering money or otherwise violating federal criminal laws and committing wire transfer fraud, check fraud, or mysterious disappearances should be reported
Answer:
Coupon rate is 6.4%
Explanation:
The coupon payment on a bond can be computed from a formula of current price of a bond
current price of a bond=coupon amount/yield to maturity
coupon amount=current price *yield to maturity
current price is $1039
yield to maturity is 6.2%
coupon rate =$1039*6.2%
=$64.42
Coupon rate=coupon amount/par value of bond
coupon amount $64.42
par value of bond=$1000
coupon rate =$64.42/$1000
=6.4%
Answer:
Credit, $60,000
Explanation:
Given,
Market rate = 10%
Face value $60,000 = Principal value.
When the bonds mature, the issuer records its payment of principal with credit to cash in the amount of principal value that is $60,000 because the bondholder will pay the principal with interest.
Therefore,
Bondholder will pay the $60,000 issued amount as principal because there is an additional interest amount needs to be paid.
It is credit because it is matured on the date of cash payment.
Answer:
The correct answer is B. Accounting firms are prohibited from providing many types of consulting services to the companies they audit.
Explanation:
The main reason for this policy is that it does not allow conflicts of interest to arise that eventually produce widely known cases of fraud, such as those presented at the Enron and Worldcom companies.
The Enron case broke out in the U.S. when that energy giant announced what was once the biggest bankruptcy in the history of the country, with a debt of 31,000 million dollars, something overcome a few months later by the collapse of another colossus, WorldCom.
In June 2002 WorldCom, the second US telephone. and of the world, he admitted that he had lied in his accounting books for almost 4,000 million dollars and his actions - which shortly before touched his maximum of 16 dollars - collapsed to 20 cents. His bankruptcy exceeded Enron's: $ 35 billion of liabilities.
Answer:
I= $1,600
Explanation:
We have to clear Investment from the GDP formula:
GDP= Consumption (C)+ Investment (I)+ Government expenditure (G)+ Net exports (exports-imports)
I=GDP-G-C-(X-M)
The problem gives this information:
GDP: $10,000
G: $2,000
C: $6,000
X: $1,000
M: $600
I= $10,000-$2,000-$6,000-($1,000-$600)
Investment in 2010=$1,600
