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kotegsom [21]
3 years ago
11

You would like to buy shares of International Business Machines (IBM). The current bid and ask quotes are $103.25 and $103.30, r

espectively. You place a market buy-order for 200 shares that executes at these quoted prices. How much money did it cost to buy these shares?a. $10,330.00 b. $20,650.00 c. $20,660.00 d. None of the options
Business
2 answers:
Komok [63]3 years ago
7 0

Answer:

c. $20,660.00

Explanation:

The current bid and ask quotes are quotes on a single share of stock. The bid price is the price at which buyers are willing to buy a stock while the ask price is the price sellers are willing to sell a stock.

If you would like to buy shares of International Business Machines (IBM), you will do so at the ask price;

Hence cost of shares

= 200 × $103.30

= $20,660

Vanyuwa [196]3 years ago
5 0

Answer:

$20,650.00

Explanation:

In the equity market, when shares are being bought there are usually bids submitted that will determine the buying price, so bid price is the price at which a share is bought. In this case it is $103.25.

When selling shares the price at which it is sold is the ask price.

Therefore the price for buying the IBM shares= Bid price* Quantity

= 103.25 * 200= $20,650

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barxatty [35]

Answer:

D) An illusory promise

Explanation:

An illusory promise is not enforceable. Illusory promises are simply illusions that seem or appear to a contract, but are not.

In this case, there is no consideration at all, therefore none of the parties is bound by a contract. It would be different if the company promised to pay a bonus if its profits are xx%. How can someone determine what is considered high profits, and how can you be sure that management will agree?

It is basically like telling someone else that you will give them something if you are happy and willing to do it. How can someone determine if you are happy or not, and how can someone know if you are willing to do it or not?

6 0
3 years ago
The impact of financial accounting information on investors' and creditors' decisions is closely related to the concept of:_____
OlgaM077 [116]

The impact of financial accounting information on investors' and creditors' decisions is closely related to the concept of materiality.  In auditing and accounting, the term "materiality" refers to the importance or "significance" of a sum, a transaction, or a discrepancy.

According to the general accepted accounting principles (GAAP) criterion known as "materiality," all items that are conceivably likely to have an influence on investors' decision-making must be documented or disclosed in full in a company's financial statements. The significance of information in financial accounts of a corporation is referred to as materiality. A transaction or business decision is "material" to the business if it necessitates reporting to investors or other users of the financial statements and cannot be excluded.

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3 0
1 year ago
Mo Meek, Lu Ling, and Barb Beck formed the MLB Partnership by making capital contributions of $79,200, $308,000, and $492,800, r
jekas [21]

Answer:

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8 0
3 years ago
On average, 35% of the sales on account are collected in the month of sale, 40% are collected in the month following sale, 10% a
stellarik [79]

Answer:

35% of sales(say $2,000,000) in April

$700,000

Explanation:

Step one :

Assuming that the sales made for April is $2,000,000

According to the conditions in which money is collected 35% of sales made for a month is collected for the month

For april the expected amount

=35/100*2,000,000

=$700,000

4 0
3 years ago
Read 2 more answers
The Monster Truck operates several specialty vehicles that provide hot food and beverages for firms that have workers employed i
GaryK [48]

Answer:

The answer is 20.55 days

Explanation:

Solution

Given that:

Annual sales =$627,200

Average accounts receivable =$35,300

Now

The accounts turnover ratio (receivable) = Sales/Average accounts receivable

Accounts receivable turnover ratio = $627,200/$35.300

=17.76 times

Thus

Number of days payment receives = 365/ Accounts receivable turnover ratio =365 days/17.76 times

=20.55 days

Therefore The company takes 20.55 days to get payment for its services

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3 years ago
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