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poizon [28]
3 years ago
7

What is the difference between a single account and a joint account?

Business
1 answer:
laila [671]3 years ago
6 0

Answer:

Single accounts are held by one person, while joint accounts have two or more holders.

Explanation:

The main difference between a single account and a joint account lies in the ownership of the account, that is, in how many people can be owners of said account. Thus, single accounts can only have one owner, that is, a single account owner. On the other hand, joint accounts can have more than one holder, with which the bank account can be shared by several people at the same time.

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If a payback period for a project is greater than its expected useful life, the ___________.
just olya [345]

Answer: d. Entire initial investment will not be recovered.

Explanation:

The Payback period by definition is the amount of time it will take a Project to recover the initial investment into it. For example, if a project had an investment of $20 million and made $5 million every year, the Payback period would be 4 years.

Now, if the amount of time it will take to recover an investment is longer than the expected amount of time the project will run (expected useful life) then logically speaking that would mean that the Investment would not be entirely recovered because the project will be done before it can pay off the investment hence Option D is correct.

4 0
3 years ago
Net Income of $10,000,000 Increase in Accounts Payable of $800,000 Increase in Accounts Receivable of $600,000 Depreciation of $
Viefleur [7K]

Answer:

Cash flow generated from operating activities <em>12,010,000</em>

Explanation:

10,000.000

+1,600,000

Adjusted Net Income 11,600,000

↑AR -600,000

↓Inventory 100,000

↑AP   800,000

Change in working capial 300,000

Other adjustment 110,000

Cash flow generated from operating activities 12,010,000

4 0
3 years ago
An engineer wishes to have $3 million by the time he retires in 35 years. Assuming 8% nominal interest, compounded continuously,
Genrish500 [490]

Answer:

annual sum must he set aside $16209.42

Explanation:

given data

engineer wishes = $3 million

retires time = 35 years

nominal interest = 8%

solution

we get here effective annual rate that is

interest rate  = e^{r} - 1  ...........1

interest rate  = e^{0.08} - 1

interest rate  = 0.08328 = 8.33%

and

now we get annual sum must he set aside that is

amount = $3 million × \frac{rate}{(1+rate)^{t}-1}

amount = $3000000 × \frac{0.0832}{(1+0.0832)^{35}-1}

amount = $16209.42

5 0
3 years ago
On January​ 1, 2018,​ Jordan, Inc. acquired a machine for $ 1,000,000. The estimated useful life of the asset is five years. Res
klemol [59]

Answer:

Annual depreciation=$188,000

Explanation:

Giving the following information:

Purchasing price= $1,000,000

Salvage value= $60,000

Useful life= 5 years

To calculate the depreciation expense under the straight-line method, we need to use the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (1,000,000 - 60,000)/5

Annual depreciation=$188,000

6 0
3 years ago
Which scenarios provided would cause a change in demand for grape jelly
Veronika [31]
Could you comment the scenarios under this.
3 0
3 years ago
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