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Alisiya [41]
2 years ago
7

“The needs of a society conflict with the goals of the financial services industry’s desire to make a profit.” Do you agree or d

isagree?
Business
1 answer:
poizon [28]2 years ago
3 0

Answer:

I do not agree that "the needs of a society conflict with the goals of the financial services industry's desire to make a profit", but on the contrary, I consider that the economic objectives of the financial system contribute to the well-being of the individuals that make up society, with which they satisfy the needs of this in an indirect way.

I believe this because the financial system, through its will to profit, creates jobs and economic opportunities for individuals, who would otherwise be forced to meet their needs without the help of a system designed to profit as a result of work done (such as communism).

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What are operating expenses?
skad [1K]

Answer:

see below

Explanation:

Operating expenses are the cost a business incurs while engaging in its normal business operations. They are the costs not directly be attached to the production process. A business incurs operating expenses in managing it day to day activities. They exclude one time expenses such as judgment cost,  accounts adjustments, and other non-recurring costs.

Operating expenses are classified into administrative, selling, and general expenses. Businesses cannot avoid operating expenses; hence the management should strive to keep them as low as possible. Examples of operating expenses include rent, salaries,  employee benefits, transport,  depreciation, repairs, taxes, sales commissions, amortization, and pension contributions.

3 0
3 years ago
TRN sold $40,000, of goods and accepted the customer's $40,000 10%, 1-year note payable in exchange. Assuming 10% approximates t
drek231 [11]

Answer:

b. $2,000

Explanation:

The computation of the interest amount is shown below:

= Sale value of goods × rate of interest × (number of months ÷ total number of months in a year)

= $40,000 × 10% × (6 months ÷ 12 months)

= $2,000

The 6 months is calculated from June 30 to December 31.

So, the b option is correct and rest options are wrong.

6 0
3 years ago
What are the unique financial reporting implications of the partnership entity in comparison with the proprietorship and corpora
Pie

The financial reporting of the Partnership firm differs from the  proprietorship and corporate entities as the closing process of partnership involves creation of the realization account, whereas the another entity not required this.

<h3>What is financial reporting?</h3>

Standard techniques for giving stakeholders an accurate portrayal of a company's finances, including revenues, profits, expenses, cash flow, capital, and official records that provide in-depth insights into financial information, are referred to as financial reporting.

The payment of taxes, fines, and interests has new financial reporting consequences for partnership firms that are distinct from any other sort of business company.

Taxes paid to partners or owners, on the other hand, are accounted for in a transaction with the owners.

Furthermore, the financial reporting implications for a partnership firm differ from those for a sole proprietorship or a corporation, as the partnership business is distinct from the two stated businesses.

The closing process of partnership differs from the another businesses because the closing process of partnership involves the preparation of realization account.

Therefore, the partnership form of business enterprise is differed from the other business.

To learn more about the partnership, refer to:

brainly.com/question/19988417

#SPJ1

5 0
2 years ago
The variance analysis cycle ______. Multiple choice question. begins with the preparation of the budget includes the investigati
Ludmilka [50]

The variance analysis cycle<u> C. begins with the preparation of </u><u>performance reports</u><u>.</u>

<h3>What is a performance report?</h3>

A performance report is at the heart of the variance analysis cycle.

The performance report details the following:

  • Calculates the difference between actual and budgeted expenditure and revenue.
  • Analyzes the differences into various variances, determining if they are favorable or unfavorable or have no effects.
  • Investigates the reasons for the differences.
  • Puts the information together and reports to management.

Thus, the variance analysis cycle<u> C. begins with the preparation of </u><u>performance reports</u><u>.</u>

Learn more about performance reports and variances at brainly.com/question/13287252

4 0
2 years ago
A business issued a 120-day, 5% note for $84,000 to a creditor on account. Journalize the entries to record (a) the issuance of
sveta [45]

Answer:

a. Issuance of note:

Date             Account title                                         Debit                   Credit

XX-XX          Accounts Payable                            $84,000

                    Notes Payable                                                                $84,000

b. The payment of the note at maturity, including interest. Assume a 360-day year.

Interest payment = 84,000 * 5% * 120/360

= $1,400

Date             Account title                                         Debit                   Credit

XX-XX          Note Payable                                    $84,000

                     Interest payable                               $1,400

                     Cash                                                                              $85,400

3 0
3 years ago
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