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sergeinik [125]
3 years ago
13

Why it is important to prepare a bank reconciliation statement at the end of each month​

Business
1 answer:
AysviL [449]3 years ago
5 0

Explanation:

The purpose of preparing a Bank Reconciliation Statement is to detect any discrepancies between the accounting records of the entity and the bank besides those due to normal timing differences. Such discrepancies might exist due to an error on the part of the company or the bank.

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When the Federal government takes action to change taxes and spending to stimulate the economy such policy is:_________
vova2212 [387]

Answer:

c. Discretionary

Explanation:

The discretionary policy is the policy that depends upon the judgement of the people who made the policy. It also deals in the decision making with respect to the monetary and fiscal policy

So here in the given situation, it is mentioned at the time of taking the action by the federal government with respect to change in the taxes and the spending in order to stimulate the economy

So this situation represents the discretionary policy

therefore the option c is correct

3 0
3 years ago
Adventure Holidays sells thousands of tour packages each month through its branches. A branch manager's salary would be a(n) ___
goblinko [34]

Answer:

Indirect cost

Explanation:

Indirect costs are costs that are not directly accountable to a cost object (such as a particular project, facility, function or product). Indirect costs may be either fixed or variable.

4 0
3 years ago
Read 2 more answers
A fire has destroyed a large percentage of the financial records of the Inferno Company. You have the task of piecing together i
oee [108]

Answer:

11.11%

Explanation:

The computation of the return on assets is given below:

But before that following calculations need to be done

Total assets = Total debt ÷ Total debt ratio

= $657,000 ÷ 0.31

= $2,119,354.839

Total equity = Total Assets - Total Debt

= $2,119,354.839 - $657,000

= $1,462,354.839

Net profit = Total equity × Return on equity

= $1,462,354.839 × 0.161

= $235,439.129

And, finally

ROA = Net profit ÷ Total Assets

= $235,439.129 ÷ $2,119,354.839

= 11.11%

7 0
3 years ago
A customer has $20,000 to invest, but needs immediate access to the funds to pay a variety of bills that will arrive over the ne
tatiyna

Answer:

A. Money Market checking account

Explanation:

A money market account represents a savings account with some features of a checking account provided by a bank. Herein, a customer deposits money, and such funds are invested into money market instruments which are highly liquid, such as commercial papers, treasury bills, certificate of deposits, etc.

Such accounts provide debit card and checks and allow a certain number of withdrawals every month. The rate of interest offered under these accounts is usually higher than the ordinary savings account.

In the given case, the customer has $20,000 to invest and also requires immediate access to the funds to pay his bills. The best recommendation would be to deposit such funds to a money market checking account, which would provide him with access i.e liquidity, a higher rate of interest than on savings account and safety of investment.

It is noteworthy that all other options specified are not as liquid as money market checking account since, those alternatives either require considerable time in redeeming and selling or do not provide immediate access to funds.

4 0
3 years ago
If the economy experiences a recession with a current spending gap $1,000 below full-employment output, and the marginal propens
gtnhenbr [62]

Answer:

Change in Investment  (Government Spending) = $200

Explanation:

Multiplier = k =∆Y/∆I = 1/(1-MPC)

Needed ∆Y = $1000  ;  MPC = 0.8

1000/ ∆I = 1 / (1-0.8)

1000/∆I  = 1 / 0.2

1000/∆I  = 5

∆I  = 1000/5

∆I = 200

5 0
3 years ago
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