Exact interest method is using 365 days instead of 360.
We are going to use the formula: I = Prt, we will derived
the formula of rate.
r = I /Pt would be our formula, plugging in our amounts.
r = 93.37 / 2000 / (284/365)
= 93.37 / 2000 (0.7781)
= 93.37 / 1556.1643
= 0.06 or 6% when converted to percent.
To check:
I = Prt
= 2000 x 0.06 x 284/365
= 120 x 0.7781
= 93.37
<u>Materiality:</u> it's a principle which states that the financial statements of a business should fully disclose all transactions that the business made.
<h3>What is GAAP?</h3>
GAAP is an abbreviation for Generally Accepted Accounting Principles and it comprises the financial accounting standards, procedures and principles that must be used by all public institutions operating in the United States of America.
Additionally, <u>GAAP</u> is the stock market regulator. Also, <u>conservatism</u> is a principle that involves exercising caution while estimating expenses or profits.
In conclusion, financial accounting standards board (FASB) is the body that established Generally Accepted Accounting Principles (GAAP).
Read more on GAAP here: brainly.com/question/16014008
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I believe Jane can take the "IQ intelligence test" since it questions her knowledge and 'outside the box' situations of her job, as a participant.
Hope this helps :)
Answer:
c. Threat of regulation
Explanation:
Michael Porter's five forces model states factors for assessing an industry's attractiveness. Following are the five forces as per porter:
- Buyer power: Refers to negotiation power of buyers in a industry
- Supplier Power: Refers to supplier's power to charge a price for inputs.
- Threat of substitutes: Refers to competitors already making homogeneous or similar products.
- Degree of Rivalry i.e the intensity of competition in an industry
- Threat of new entrants: Threat of new firms entering the industry and gaining a market share.
Thus, Threat of regulation is not considered amongst 5 forces that are used to assess industry attractiveness.
