Answer:
are costs that do not vary with production or sales level
Explanation:
Fixed cost can as well be regarded as overhead cost they are expenses in the company that does not depends on the change in the amount of goods and services produced in the company. They are time- related cost such as
salaries, property taxes, interest as well as insurance. It should be noted that fixed costs are costs that do not vary with production or sales level
A decline in interest rates in expected to increase economic growth.
The following makes notes receivable :
- Notes receivable are formal written contracts.
- Notes receivable have a stronger legal claim.
- Notes receivable are interest bearing.
<h3>What are Notes Receivable?</h3>
Notes receivable are a balance sheet item that records the value of promissory notes that a business is owed and should receive payment for. A written promissory note gives the holder, or bearer, the right to receive the amount outlined in the legal agreement. Promissory notes are a written promise to pay cash to another party on or before a specified future date.
If the note receivable is due within a year, then it is treated as a current asset on the balance sheet. If it is not due until a date that is more than one year in the future, then it is treated as a non-current asset on the balance sheet.
Often, a business will allow customers to convert their overdue accounts (the business’ accounts receivable) into notes receivable. By doing so, the debtor typically benefits by having more time to pay.
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Answer:
b. At the signing of the contract
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent and it is at this point they (buyer and seller) sign the contract. Therefore, mutual assent connotes agreement, acceptance and consent to a contract by both parties.
<em>Hence, in most transactions, the buyer is accepting the condition of the property at the signing of the contract as an approval or consent to the terms and conditions. </em>
Answer: $611.57 or $612 rounded to nearest dollar.
Explanation:
She would have to make a constant payment per quarter which makes it an annuity.
The $10,000 is the present value of the annuity.
The quarters remaining are = 5 years * 4 = 20 quarters
Quarterly interest = 8%/4 = 2%
10,000 = Annuity * Present Value of Annuity factor, 20 periods, 2%
10,000 = Annuity * 16.3514
Annuity = 10,000/16.3514
= $611.57
