Answer:
The answer is 2. Ten percent of the principal of the loan
Explanation:
By law, maximum commissions for first trust deed loans are at :
- 5% of the principal for loans less than 2 years or less than 3 years
- 10% of the principal for loans 3years and more.
Second trust deed loans, on the other hand, are stated at 5% for loans up to 2years, 10% for loans between 2-3 years and 15% for loans more than 3 years.
Answer:
Oct 31
Dr Cash $7,201
Cr Notes receivable—R. Albany $7,000
Cr Interest revenue $201
Explanation:
Preparation of Jun's journal entry assuming the note is honored by the customer on October 31, of that same year
Oct 31
Dr Cash $7,201
($7,000+$201)
Cr Notes receivable—R. Albany $7,000
Cr Interest revenue $201
(11.5%*7,000*90/360)
Answer:
a. a grant will be secured to help fund the project.
Explanation:
In project management, a project manager can be defined as an individual or organization that temporarily undertakes a project in order to create a unique result, product, and service. Project managers strives very hard so that they can achieve their aims, goals and objectives in the most cost-effective, efficient and best manner through the use of unique set of interrelated tools, skills and tasks.
An assumption for a construction project could be, a grant will be secured to help fund the project.
Project managers sometimes embark on the execution of projects without having enough fund to finish it successfully. There assumptions are usually that once they have commenced the process, a grant can be secured from creditors, investors or financial institutions to help fund the remaining part of the project. However, since it is an assumption, they're not guaranteed that the grant will be given to them; therefore, this can result to the stalling of projects sometimes.
By virtue of standards, materials to be used to construct the building, the size of the building that is to be constructed and the regulations and codes required for the building should never be assumed by project managers.
Answer:
True
Explanation:
The profit margin calculation is shown below:
= (Net income ÷ net sales) × 100
= ($130,500 ÷ $1,740,000) × 100
= 7.5%
We simply divide net income by net sales in order to achieve the gross profit margin. This indicates a correlation between net income or net income and net sales.
All other information provided is irrelevant. Therefore, it was ignored
