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olasank [31]
3 years ago
5

Why is a vendor closing checklist especially important when a project manager orders and receives specialty products

Business
1 answer:
olganol [36]3 years ago
8 0

Answer:

A vendor checklist is used to avoid errors in items supplied by the vendor. It gives assurance that the product meets specifications and there is no shortfall in quantity

Explanation:

Vendor closing checklist is defined as a list that helps a manager to verify if all the items he ordered from a vendor meets his requirements, is complete, and is delivered on time.

This checklist is especially important because mistakes or intentional misrepresentation from the vendor will lead to payment for items not received or of low quality.

These losses eats deeply into the profit that the business is struggling to make.

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For the current year ended October 31, Friedman Company expects fixed costs of $14,300,000, a unit variable cost of $250, and a
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If 7000 dollars is invested in a bank account at an interest rate of 7 per cent per year, Find the amount in the bank after 14 y
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1. Interest compounded annually = $18,049.74

2. Interest compounded quarterly = $18,493.77

3. Interest compounded Monthly = $18,598.16

4. Interest compounded continuously = $18,651.19

Explanation:

First let me state the formula for compound interest:

The future value of a certain amount which is compounded is the total amount (Principal + interest) on the amount of money, after compound interests have been applied, and this is shown below:

FV = PV (1+\frac{r}{n} )^{n*t}

where:

FV = Future value

PV = Present value = $7,000

r = interest rate in decimal = 0.07

n = number of compounding periods per year

t = compounding period in years = 14

For interests compounded continuously, the Future value is given as:

FV = PV × e^{r*t}

where

e is a mathematical constant which is = 2.7183

Now to calculate each on the compounding periods one after the other:

1. Interest compounded annually:

here n (number of compounding periods annually) = 1

Therefore,

FV = 7,000 × (1+\frac{0.07}{1})^{14}

FV = 7,000 × 1.07^{14} = $18,049.74

2. Interest compounded quarterly:

here, n = 3 ( there are 4 quarters in a year)

FV = 7,000 × (1+\frac{0.07}{4} )^{4*14}

FV = 7,000 × 1.0175^{56} = $18,493.77

3. Interest compounded Monthly:

here n = 12 ( 12 months in a year)

FV = 7,000 × (1+\frac{0.07}{12} )^{12*14}

FV = 7,000 × 1.005833^{168} = $18,598.16

4. Interests compounded continuously:

FV = PV × e^{0.07 * 14}

FV = 7,000 × 2.66446 = $18,651.19

3 0
3 years ago
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