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solong [7]
2 years ago
13

What are financial institutions and why are they so important

Business
1 answer:
laiz [17]2 years ago
6 0

Answer:

Financial institutions, like banks, provide consumers with places to keep their existing funds and provide loan and credit options for future purchases. Financial institutions provide consumers and commercial clients with a wide range of services and different types of banking products.

Explanation:

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Which of the following accounting strategies (for financial reporting purposes) is the least likely for a firm that is currently
jeyben [28]

Using straight-line depreciation.

Changing to FIFO

Using the weighted average method for capitalizing interest during times of reduced interest rates, rather than the specific method.

Changing to the successful efforts method of accounting for natural resource exploration costs.

Changing to the successful efforts method of accounting for natural resource exploration costs.

<u>Explanation:</u>

The particular technique initially underwrites the enthusiasm on explicit obligation. With financing costs on the decay, enthusiasm on lower rate obligation is promoted and more is expensed, comparative with the weighted normal technique, which underwrites at the normal rate over all obligation.

The weighted normal strategy would underwrite more enthusiasm on more established (higher loan cost) obligation, in this way diminishing the present measure of premium cost and expanding income. Expanding profit lessens the danger of rebelliousness for this firm.

4 0
3 years ago
Israel kirzner believes entrepreneurs have a unique capability, which he calls _________ ________, to spot existing opportunitie
Hatshy [7]
Israel kirzner believes entrepreneurs have a unique capability, which he calls entrepreneurial alertness, to spot existing opportunities for businesses.
Israel<span> Meir </span>Kirzner<span> is a British-born American economist. we can define the unique ability of </span>Entrepreneurial alertness that some people have as to recognize competitive limitations or imperfections in markets.
7 0
3 years ago
(A) If variances are prorated at the end of the accounting period, an unfavorable direct materials price variance will, when pro
charle [14.2K]

Answer:

Both A and B are correct.

Explanation:

Variance analysis help the business to identify the deviation from their budgeted expenditures. The budget cost or volume is analyzed against the actual expenditure or production volume. Variance can be favorable or unfavorable. An unfavorable material price variance will increase the cost of finished goods.

5 0
3 years ago
When the company pays rent expense for the current month, what is the effect on the accounting equation for that company?
GREYUIT [131]

Answer:

decrease the stockholder equity and decrease in assets

Explanation:

As we know, the accounting equation is  

Total assets = Total liabilities + stockholder equity

In the given case,  

The rent is paid for the current month, so the journal entry would be

Rent expense A/c Dr XXXXX

    To Cash A/c XXXXX

(Being rent is paid)

So it decreases the stockholder equity as it includes the income and expenses part and it decreases in assets as it reduces the cash balance

3 0
3 years ago
In which of the following cases is outsourcing likely to be the best solution to the firm's data processing needs? a) Peterson I
Alex73 [517]

Answer:

a) Peterson International is a trenchcoat wholesaler to retailers around the world. Sixty percent of sales orders are taken during the months of August and September. Peterson needs a system to manage online ordering and fulfillment.

Explanation:

Outsourcing likely to be the best solution to the firm's data processing needs because Peterson International is a trenchcoat wholesaler to retailers around the world. Sixty percent of sales orders are taken during the months of August and September. Peterson needs a system to manage online ordering and fulfillment.

5 0
3 years ago
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