Answer:
$210,000
Explanation:
Calculation to determine the pension expense for the year
Service cost $197,000
Interest cost $39,000
Less Expected return on plan assets ($26,000) ($260,000*10%)
Pension expense $210,000
Therefore the pension expense for the year will be $210,000
Answer:
True
Explanation:
Financial services are the activities rendered by any financial institution such as the banks to their customers. Most of the services are done at a fee that makes the main source of revenue for banks. The revenue is spent to pay the overall expenses of the bank. If the expenses are lower than the revenue, a bank makes profit. If expenses exceed revenue, a bank makes loss which is not mostly the case. Therefore, it is true to say that banks work to earn a profit by selling financial services.
In economics, decisions are necessary because resources are scarce, while wants and needs are practically unlimited.
<h3>What is economic?</h3>
Economics examines how products and services are produced, distributed, and consumed as well as the decisions that people, corporations, communities, and countries make when distributing funds.
There are enormous people who are living in this world and all of them have some kind of need or want them to need to fulfill and also which means that there will be limited resources that will be available to them in the near future also.
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The effect of performing these tasks themselves will result in an increase in their sweat equity.
Sweat equity is simply known as the interest gotten by the owner or increase in worth that is brought about by direct input of hard work by the owner(s).
It is the one method that is mostly adopted in building equity for low-cash entrepreneurs in their start-up ventures due to the fact that they lack the capability to aid much financial capital to their business.
Conclusively, This sweat equity helps individuals or companies to get funds without having more debts while for the workers, it is a case of high risk to get high reward.
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