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3 years ago

Which of the following serves as the central bank for the United States?

1 answer:

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<span>The correct answer is, clearly, ‘A’. It is, indeed, the Federal Reserve System the corresponding authority in charge of all the main national central bank functions. This particular central banking has been legally established and, therefore, on duty since 1913. Logically, the System has got more powerful throughout the century (among other causes, because of the imperative need to take care of the 1929’s financial crisis). </span>

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New Savings Bank pays 4% interest on its deposits. If you deposit $1,000 in the bank and leave it there, will it take more or le

attashe74 [19]

Explanation:

The cumulative increase in your portfolio for a 25 years is

4% annually * 25 years = 100% — if you received a basic profit (without composition).

The cash would then double.

Your capital would multiply more rapidly than it does with simple interest with compounding interest and would thus take less than 25 years to double.

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3 years ago

Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during

yKpoI14uk [10]

Answer:

Computer; $ 3800

Printer; $3150

Desk; $4000

File Cabinet; $3200

Explanation:

First we need to determine how to determine the depreciable basis for the asset.

The basis of assets converted from personal use to business use in terms of depreciable amount is the lesser of (1) fair market value on date of conversion or (2) basis on the date of conversion (the cost price)

Now we apply this to the following assets

Computer: Depreciable base of $ 3800 ( FMV < Purchase price )

Printer: $3150 ( FMV < Purchase price )

Desk: $4000 ( FMV < Purchase price )

File Cabinet: $3200 ( FMV > Purchase price )

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3 years ago

A company produces alternators for cars. They generally use a static budget with the following costs based on 8,000 units per mo

Daniel [21]

Answer:

$70,875

Explanation:

By definition, a flexible budget is when a budget has been adjusted or flexed to accommodate the changes in the level of activity.

If the company wanted to create a flexible budget for 9,000 units, then the value that would be recorded for variable costs will be:

Indirect materials, $22,000/8000*9000 = 24,750;

Indirect labor, $25,000/8000*9000 = 28,125 ;

Utilities, $12,000/8000*9000 = 13,500;

Supervision, $4,000/8000*9000=4,500

Total of variable costs = ........................70,875

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3 years ago

A company is formulating its plans for the coming year, including the preparation of its cash budget. Historically, the company'

Alchen [17]

Answer:

c. $4,025,200

Explanation:

The computation of the total cash receipts from sales and collections in April month is shown below:

= April sales × cash sales percentage + April sales × credit sales percentage × collection month percentage + March sales credit sales percentage × Following month collection percentage

= $4,000,000 ×30% + $4,000,000 × 70% × 40% + $4,200,000 × 70% × 58%

= $1,200,000 + $1,120,000 + $1,705,200

= $4,025,200

Since cash sales are 30% , so the credit sales would be 70%

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3 years ago

The Income Statement is also known as the company's financial condition at a specific point in time. A : True B : False

sukhopar [10]

Answer:

A : True

Explanation:

The income statement is also called as a profit and a loss statement and is called a revenue statement and is transformed into the net income and the net profits and is to show the managers and the investor whether the company is making a profit and represent over a period of time.

3 0

3 years ago