Answer:
The correct options are:
- A. It is used to avoid the time and cost of writing checks for small amounts.
- C. It is established to pay for small payments like postage, shipping fees, etc.
- E. It is an asset reported on the balance sheet.
Explanation:
A Petty Cash Fund is a small amount of money that is kept on hand to be used in covering for the making of purchases that are too small to bother to write a check. Money from the petty cash fund can be used to pay for minor expenses such as postage, cab fares, shipping fees or office supplies.
Petty cash fund appears in the balance sheet on the current assets section. This is because line items in the balance sheet are sorted according to their order of liquidity. Since petty cash is highly liquid, it always appears near the top of the balance sheet.
Answer:
Using break-even analysis in your feed and grain business can help you understand and examine the profit drivers of your business. It is a very useful tool that can help you understand how much you need to sell to cover your costs and how pricing, cost, and volume changes impact these needed sales.
Answer:
Production manager
Explanation:
In the firm or company, the duty of the production manager is to ensure that the manufacturing processes should run efficiently as well as reliably. In short, it means to ensure that the operations are being done through the employees, follow the limitation, which is created in the budget. The production manager will ensure that the firm will accomplish all the objectives by maintaining the profitability at the same time.
The responsibilities of the job involve, organising as well as planning the production, negotiates and create budgets and the timescales with managers and clients.
Answer:
1. A) Satisfying your day-to-day spending needs?
<u>Statement Savings account </u>
Bank statements will hep you keep track of the balance.
B) Making and holding funds for your car purchase?
<u>NOW Account.</u>
An account that earns interest yet allows the owner to write drafts against the money in the account. This would be good here as it will increase the funds you are saving for the car purchase.
C) Making and holding funds for your home purchase?
<u>NOW Account. </u>
NOW stands for Negotiable Order of Withdrawal account and would work here as well.
D) Making and holding funds for your retirement?
<u>Certificate of Deposit.</u>
These are offered by banks and earn a higher interest return. They however have to be locked up for a while without withdrawing so they are great for retirement saving.
2. Which of the following accounts is typically not insured?
<h2>
A. Mutual Funds.</h2>
Mutual funds are not financial deposits so will not be covered by the Federal Deposit Insurance Corporation (FDIC).
3. Which of the following practices would help you keep accurate records regarding the funds in your bank account?
- A. Keep track of your balance online.
- B. Immediately record the date and amount of each transaction in your check register and calculate the new balance.
4. You can avoid a service fee on an average-balance account if you:
- B. Keep a certain average daily balance in the account through a specified time
May i ask what kind of question or statement is this? im not trying to be rude or anything.
