I would say that the work that Benji conducted on the books of the Sanborn Corporation would be classified as a financial audit because she checked their figures, examined their accounting procedures and prepared a report so this would qualify as an audit.
Answer:
Susan will have to pay $525 for her health insurance.
Explanation:
The total amount paid to the health insurance is $200 by Susan and $325 by the employer which summed up to $525.
As now the employer is no longer paying the amount for the health insurance, so now Susan has to pay $525 herself for the health insurance.
Answer:
Market value at 8% YTM $ 743.2156
at 10% YTM $ 619.6960
Explanation:
Assuming the face value is 1,000 as common outstanding American company's bonds:
Market value under the current scenario:
<u>Present value of the coupon payment:</u>
<u />
Coupon: $1,000 x 5% = 50
time 15 years
rate 0.08
PV $427.9739
<u>Present Value of the Maturity</u>
<u />
Maturity 1,000.00
time 15.00
rate 0.08
PV 315.24
PV c $427.9739
PV m $315.2417
Total $743.2156
If the interest rate in the market increaseby 2% then investor will only trade the bonds to get a yield 2% higher that is 10% so we recalculate the new price:
C 50.000
time 15
rate 0.1
PV $380.3040
Maturity 1,000.00
time 15.00
rate 0.1
PV 239.39
PV c $380.3040
PV m $239.3920
Total $619.6960
Giving a lower price than before
Answer:
In a Chapter 11 bankruptcy, a class of creditors is considered to have accepted the bankruptcy plan when:
one-half of the class in number and two-thirds of the class in dollar amount agree.
Explanation:
In a Chapter 7 bankruptcy, the business assets are liquidated to pay the creditors. In a Chapter 11 bankruptcy, the business assets are not liquidated. Instead, the business is refinanced as the assets and debts are reorganized, making it possible for the continued existence of the business. This is the reason the agreement of the creditors are usually paramount in the decision to undergo a Chapter 11 bankruptcy, unlike a Chapter 7 bankruptcy.