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kolbaska11 [484]
3 years ago
13

Please provide at least 3 similarities and 3 differences between insurance companies and depository institutions both in terms o

f their function as well as the make-up of their balance sheet.
Business
1 answer:
Galina-37 [17]3 years ago
3 0

Answer:

Explanation:

I will be starting with the similarities first. 3 of the similarities both of them share are

1) They both have a financial leverage that is quite high

2) they both can be subjected to national oversight as regards to their balance sheet quality.

3) they both are institutions that accepts funds and also gives out funds to finance commercial firms

Moving on to the differences, differences that exists between both includes

1) Insurance companies can are invest in stock markets but depository institutions do not have that leverage.

2) Insurance companies do not have fixed composition of liabilities, while depository institutions have.

3)

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3 years ago
Budd, the purchasing agent for Lake Hardware Wholesalers, has a relative who owns a retail hardware store. Budd arranged for har
Anon25 [30]

Answer:

D. Purchase orders

Explanation:

A purchase order is a document legally binding a buyer and a sellerr. It is the official confirmation of an order.

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Purchase orders includes details such as purchase order number, the shipping date, billing address, shipping address, quantities and price.

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3 years ago
On June 1, 2019, Irene places in service a new automobile that cost $21,000. The car is used 70% for business and 30% for person
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Answer:

a.$4,704

Explanation:

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Hence, the cost recovery deduction for Irene in 2020 is $4,704.

4 0
3 years ago
"Gamboa, Inc. sold 100 selfie sticks for $25 each. If the selfie sticks had an average cost of $1 to produce, how much profit di
IRISSAK [1]

Answer:

$2400

Explanation:

Average cost is the ratio of total cost of production to the total number of units produced, it is the sum of both the average fixed cost and the average variable cost. The average cost is given by the formula:

Average cost = Total cost / number of units.

Given that:

The total number of units produced = 100 selfie sticks, Average cost = $1 and Price of each selfie stick = $25

From Average cost = Total cost / number of units.

Substituting gibes:

$1 = Total cost / 100 selfie stick

Total cost = $1 × 100 = $100

Total cost = $100

Revenue = Price per item × Number of items

Revenue = $25 × 100 = $2500

Profit = Revenue - Total cost

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5 0
3 years ago
Liabilities are:___________ a) deferred credits that are recognized and measured in conformity with generally accepted accountin
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Answer: d) obligations arising from past transactions and payable in assets or services in the future.

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Liabilities are financial obligations meant to be catered for by an organization in the running of its business.

8 0
3 years ago
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