A promissory note can best be described as __________., a. an interest-bearing IOU, b. a guarantee of a line of credit, c. a commitment to lend money to someone, d. a government-backed bond
A promissory note can best be described as: a. an interest-bearing IOU.
What is promissory note?Promissory note can be defined as a written note that help to shows that a person who lend a money from another person promise to payback. The note contains a promise by the borrower to pay back the lender within a stipulated period of time.
A promissory note can tend to be described as IOU which full meaning is I OWE YOU which implies that a borrower is telling the lender that he/she owe the lender some certain amount of money which the borrower will have to payback.
A promissory note also contains the terms and conditions of the agreement and this terms and agreement includes the following :
The principal amountThe loan maturity dateThe interest etcTherefore we can conclude that the correct option is A.
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Morgana Company identifies three activities in its manufacturing process: machine setups, machining, and inspections. Estimated annual overhead cost for each activity is $202,800, $364,500, and $88,000, respectively. The cost driver for each activity and the estimated annual usage are number of setups 2,600, machine hours 24,300, and number of inspections 1,600. Compute the overhead rate for each activity.
Machine setups $ per setup
Machining $ per machine hour
Inspections $ per inspection
Answer and Explanation:
The computation of the overhead rate for each activity is as follows;
Overhead rate is
= Respective overhead cost ÷ Respective activity
For Machine setups
= ($202,800 ÷ 2,600 setups)
= $78 per setup
For Machining
= ($364,500 ÷ 24,300 machine hours)
= $15 per machine hour
For Inspection
= ($88,000 ÷ 1,600 inspections)
= $55 per inspection
In this way it is calculated
Bakersfield Corp. pays income tax at an average rate of 30 percent. This year its revenue is $124,000 and its expenses are $82,000. The adjusting entry to record the income tax expense will:
Multiple Choice
decrease net income by $42,000.
increase shareholders' equity by $12,600.
decrease liabilities by $12,600.
decrease shareholders' equity by $12,600.
The adjusting entry to record the income tax expense for Bakersfield Corp. will decrease net income by $42,000. Option A is the correct answer.
The adjusting entry to record the income tax expense for Bakersfield Corp. will decrease net income by $42,000.
The income tax expense is calculated by applying the applicable tax rate to the taxable income. In this case, Bakersfield Corp. has revenue of $124,000 and expenses of $82,000, resulting in a taxable income of $42,000 ($124,000 - $82,000).
Since Bakersfield Corp. pays income tax at an average rate of 30 percent, the income tax expense will be 30 percent of the taxable income:
Income tax expense = Taxable income x Tax rate
= $42,000 x 0.30
= $12,600
Adjusting entries are made at the end of an accounting period to ensure that revenues and expenses are properly recognized. In this case, the adjusting entry will decrease net income by the amount of the income tax expense.
This adjustment reflects the company's obligation to pay income tax and reduces its reported net income.
Therefore, the correct option is: "Decrease net income by $42,000."
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Match the definition to the term.
1. commute
2. lifestyle
3. lifestyle budget
lists the costs of items you chooseto spend your money on
the way a person chooses to live
commute the distance you travel to
and from work
The correct matching of the term and its definitions are:
commute - the distance you travel to and from work
lifestyle - the way a person chooses to live
lifestyle budget - lists the costs of items you choose to spend your money on.
What is Lifestyle Budget?A lifestyle budget is a budgeting approach that concentrates on allocating money toward the choices, needs, and prioritizations of an individual or household.
This type of budget incorporates expenditures such as amusement, dining at restaurants, pastimes, holidays, clothing, as well as other optional acquisitions into the total monetary scheme. By creating a lifestyle budget, individuals can feasibly manage their money and attain their financial aspirations while still cherishing their preferred lifestyle.
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Based on the available terms and the definition in the option, the right matching includes lifestyle budget = lists the costs of items you choose to spend your money on.
What is the Definition?The definition is a term that is used to describe the statement of meaning of a term or word, or phrase.
Generally, the term Definitions can be classified into two large categories: intensional definitions which aim to give the sense of a term, and extensional definitions which list the objects that a term defines.
Hence, in this case, we have the following words and their meanings:lifestyle budget = lists the costs of items you choose to spend your money on.lifestyle = the way a person chooses to livecommute = commute the distance you travel toand from workTherefore, in this case, it is concluded that each word or phrase has a specific meaning.
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List five types of damage that can happen to you because of identity or financial information theft. Use online resources to research the implications of identity theft. Give us five ways how it can impact your life.
The five types of damage caused due to financial information theft are as follows:
A credit card was declinedRejected for a different loan type, such as a student, mortgage, or personal loan Due to identity theft, you're currently in debt. Calls from collection agencies related to fraudulent accounts No checking or savings account can be openedWhen someone utilizes another person's personal information for financial gain, it is called financial identity theft. This type of identity theft is the most prevalent (together with the credit card example previously mentioned). Many different types of financial identity theft exist, including The details of your credit card may be used by fraudsters to make purchases.
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The first step in conducting an STP analysis is
A)
dividing the marketplace into subgroups.
B)
repositioning existing segments.
C)
generating a sum of segments.
D)
targeting potential segments.
Conducting an STP begins with segmenting the market into subgroups. To categorize your clients into groups of people with similar traits and wants, utilize market segmentation. As a result, choice (A) is the right response.
What is STP?A marketing strategy known as segmentation, targeting, and positioning (STP) rethinks how and to whom you should advertise your goods. It improves the emphasis, relevance, and personalization of your marketing communications for your target audience.
When designing marketing communications plans, the STP model is helpful since it enables marketers to prioritize ideas before developing and delivering individualized and pertinent messages to engage with various audiences. Market segmentation, market targeting, and positioning strategy make up the three steps of the funnel.
Hence, Option (A) is accurate.
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Hi can someone help!
The most direct wat for Johnathan to gain on the job experience and earn money while attending school is to apply for:
a. Private Loan
b. A work study program
c. Federal financial aid
d. Scholarships
Answer:
a work study program...........
Managers are strictly required to properly understand the role of Information Systems in their organization. Failure to do so might have adversary effects on the existence of their organization. In relation to role of IS in organization, there are practical examples where IS has created a situation to replace roles organizations have assumed for years in Ethiopian business environment. Mention at least two organizations IN Ethiopia whose role has been replaced/ threatened by IS.
Answer:
Explanation: the most which is
(5 points)
Willie's Hot Dogs had sales last year of $250,300 and a guest count of 76,079.
Sales this year were $280,750 with a guest count of 83,556.
What was Willie's guest count percentage variance?
Willie's guest count percentage variance is 9.82%.
How to calculate guest count percentageTo calculate the guest count percentage variance
Use the following formula:
Guest count percentage variance = [(current year guest count - prior year guest count) / prior year guest count] x 100%
Guest count percentage variance = [(83,556 - 76,079) / 76,079] x 100%
Guest count percentage variance = (7,477 / 76,079) x 100%
Guest count percentage variance = 0.0982 x 100%
Guest count percentage variance = 9.82%
Therefore, Willie's guest count percentage variance is 9.82%.
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Your neighbor found out his uncle left him $450,000 which he will receive on his 18th birthday next year. If the real interest rate is 5%, what is the present value of his inheritance
The present value of his inheritance is $428,571.43.
The present value (PV) is the current value of a future stream of cash flows using a specified rate of return. To obtain the present value, the future cash flows are discounted at the discount rate.
The formula for calculating the present value is given as follows:
PV=FV 1/{(1+r)^{n}}
PV = present value
FV = future value
r = rate of return
{n} = number of periods
However, we can use an online finance calculator to determine the present value as below:
Data and Calculations:N (# of periods) = 1 year
I/Y (Interest per year) = 5%
PMT (Periodic Payment) = $0
FV (Future Value) = $450,000
Results:
Present Value (PV) = $428,571.43
Total Interest $21,428.57
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Reese opened his business in February. Due to circumstances beyond his control, it closed in August. What month of this short tax year will serve as the midpoint for purposes of calculating depreciation using the half-year convention?
Reese opened his business in February. Due to circumstances beyond his control, it closed in August. The month of this short tax year that will serve as the midpoint for purposes of calculating depreciation using the half-year convention is: July. (Option D)
What is tax year?For a short tax year, the month of July will be used for depreciation using the midpoint technique. This is because when an asset is acquired throughout the year and used after the second half, July 1 is used to calculate depreciation using the half-year approach. As a result, option d, July, is the right answer.
A fiscal year is used in government accounting, which differs by country, as well as budgeting. Businesses and other organizations also utilize it for financial reporting.
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Full Question:
Jackson opened his business in February. Due to circumstances beyond his control, it closed in August. What month of this short tax year will serve as the midpoint for purposes of calculating depreciation using the half-year convention?
A) April
B) May
C) June
D) July
Why are short-term and long-term goals important when it comes to money? Give an example of each.
Answer:
Answer to the following question is as follows;
Explanation:
The precision of planned statistics that relate to future activities is a benefit of short-term planning. Long-term planning may be less trustworthy due to the inaccuracy of longer-term projections.
Long-Term Financial Objectives For most people, the most important long-term financial objective is to save enough money to live comfortably.
Virtually all organisations, from small startups to huge established firms, require short-term money management. Even huge corporations with seemingly strong financial accounts have declared bankruptcy because they were unable to pay their existing obligations.
On a résumé, it is important to use words like oversaw and coordinated
to describe your work experience.
OA. action
OB. simple
O C. mundane
OD. interpretive
On a resume, it is important to use words like oversaw and coordinated
to describe your work experience and action.
What is a resume?A curriculum vitae (CV), sometimes known as a resume outside of North America, is a document that a person creates and uses to highlight their educational history, professional experience, and accomplishments. Although there are several uses for resumes, the most common one is finding new work.
An "summary" of relevant work experience and education can be included on most resumes. The resume is normally one of the first things a potential employer sees about a job seeker and is used to screen applications; this is frequently followed by an interview. Other materials that may be seen by a potential employer include a cover letter and occasionally an application for employment. In place of a resume, biodata is frequently utilized in South Asian nations including India, Pakistan, and Bangladesh.
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Which of the following is NOT a step in the basic selling process?
make a connection
recite product features
personalize service
assess needs
From the options given recite product features is not a step in the basic selling process
What is the basic selling process about?The series of steps a salesperson takes to find and approach prospects, give a sales presentation, address objections, and close a sale is known as the selling process
Prospecting, planning, approaching, presenting, addressing objections, closing, and following up are often involved in the process .The technique may be applied to the majority of selling scenarios, including non-product selling.
The objective is to persuade the consumer that the product or service can satisfy their demand and to establish long-term customer relationships.
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the legal affairs attorney working at AMD would most likely occupy an
The legal affairs attorney working at AMD would most likely occupy an in-house counsel position.
What is inhouse counselAn in-house counsel is a lawyer who is employed by a company or organization to provide legal advice and representation on a range of legal issues related to the company's operations, contracts, intellectual property, compliance, and litigation.
The role of an in-house counsel is to ensure that the company's actions and policies comply with relevant laws and regulations and to represent the company in legal proceedings when necessary. The in-house counsel works closely with the company's executives and employees to provide legal guidance and to identify and mitigate potential legal risks.
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A local radio station gives away concert tickets at random times everyday to reward listeners. What schedule of reinforcement are they using?
a. fixed interval
b. variable interval
c. fixed ratio
d. variable ration
Answer:
b. variable interval
Explanation:
Schedules of reinforcement based on lapsed time are known as interval schedules. They are either fixed-interval or variable-interval schedules.
Variable-interval schedules provide reinforcement/reward after random time-interval. The interval of time is irregular but revolves around some average length of time. Reinforcement is therefore dispensed unevenly within a stated period.
Miley’s business model involves recruiting people and earning a commission off the sales they make. What kind of business model does Miley work with? Miley works with ________ the business model.
Answer:
Multilevel Marketing business model
Explanation:
WHAT IS Segmentation,
Answer:
Segmentation is to divide something into separate parts or sections
If your company matches 75 cents on the dollar,and you contribute $200 a paycheck, how much will your employee match?
Problems that may occur in a business due to lack of bureaucracy
Answer:
Bureaucracy helps to form a rigid organisation.
Explanation:
Any corporation needs formal as well as informal work groups in the organisation for a corporation to achieve its targets it will need the presence of a bureaucratic approach.
bureaucracy in the organisation is to increase the level of formality,
better communication among the colleagues
as well as increase overall productivity.
How do these three rules apply to your life? Explain them in your words and try to think about how they relate to your financial situation. (Hint: Think about how you earn money and how you spend money, also imagine that you have been offered a credit card with a starting line of credit at $1000)
Rule 1 - Don't have debt rise faster than income, because the debt burden will eventually crush you
Rule 2 - Don't have income rise faster than productivity, because you will eventually become uncompetitive
Rule 3 - Do all that you can to raise your productivity, because in the long run that's what matters most
The three rules below will help individuals achieve financial stability and security, which is critical for living a happy and stress-free life. They can learn new skills, enroll in courses, read books, and so on to increase their productivity levels.
Rule 1: Don't have debt rise faster than income, because the debt burden will eventually crush you.To avoid falling into a debt trap, one should prioritize their spending. It's always a good idea to live within one's means and avoid spending more than they earn.Rule 2: Don't have income rise faster than productivity, because you will eventually become uncompetitive.It's a good idea to focus on increasing productivity to achieve long-term financial stability. One must avoid situations where they are not productive but are earning more money, as this can make them uncompetitive in the long run.Rule 3: Do all that you can to raise your productivity, because in the long run that's what matters most.Productivity is the most critical factor in achieving financial stability. Increasing productivity can lead to higher earnings, which can help you reach your financial goals faster.Individuals must always make efforts to improve their productivity. It's always a good idea to live within one's means, avoid unnecessary debt, increase productivity, and invest in oneself. In conclusion, the above three rules can be beneficial to anyone looking to achieve financial stability.
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Explain how each concept-Scarcity,choice,and opportunity cost-relate to your dilemma.Use three separate statements in your response,one for each concept.
If choosing one alternative necessitates sacrificing another, that good is considered to be scarce. Alternative uses exist, which pushes us to make decisions. Any decision has an opportunity cost, which is the value of the best alternative given up.
The value or advantage forfeited by engaging in a specific activity in comparison to engaging in a different activity is known as the opportunity cost in microeconomic theory. Simply put, it means that if you choose one activity, you forfeit the chance to do another.
The opportunity cost is the amount of time spent learning and the money that could be used elsewhere. When a farmer decides to grow wheat, there is an opportunity cost associated with not doing so or using the resources in another way (land and farm equipment). Instead of driving, a commuter takes the train to work.
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f) In a financial crisis, would it be preferable for the government to stabilise the economy using fiscal or monetary policy?
In a financial crisis, both fiscal and monetary policies can be used to stabilize the economy, but their effectiveness and appropriateness may vary depending on the specific circumstances and goals of policymakers.
Fiscal policy refers to the use of government spending and taxation to influence the economy. In a financial crisis, the government can implement expansionary fiscal policies, such as increasing government spending or reducing taxes, to stimulate economic activity.
This can help boost consumer and business spending, create jobs, and restore confidence in the economy.
Fiscal policy can also be targeted to provide direct assistance to industries or sectors that are most affected by the crisis, such as providing financial support to struggling businesses or implementing social safety net programs to support individuals and families in need.
Monetary policy, on the other hand, is conducted by central banks and involves the manipulation of interest rates and the money supply to influence economic activity.
In a financial crisis, central banks can employ expansionary monetary policies, such as lowering interest rates or implementing quantitative easing measures, to encourage borrowing and investment, stimulate lending by financial institutions, and provide liquidity to the markets.
These actions aim to promote economic growth, stabilize financial markets, and restore confidence among investors and businesses.
The preference for fiscal or monetary policy in a financial crisis depends on several factors, including the nature and severity of the crisis, the policy tools available, and the economic conditions.
In general, fiscal policy may be more effective in addressing structural issues or long-term challenges, as it can directly target specific sectors or provide substantial stimulus to the economy. Monetary policy, on the other hand, can act more swiftly and is often used to address short-term fluctuations or liquidity issues in financial markets.
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A company decided to finance the purchase of truck. The loan agreement requires quarterly payments of $850/each for 3 years. The interest rate on the loan is 8%. No amount was due in cash at the time of signing and the first payment of $850 is due three months (one quarter) after the signing date. How much did the truck cost?
Answer:
The cost of the truck is:
$10,200
Explanation:
a) Data and Calculations:
Quarterly payments = $850
Rate of interest on the loan = 8%
Annual payments = $3,400 ($850*4)
Payments for the three years' duration = $10,200 ($3,400*3)
b) The truck cost of $10,200 includes the interest at 8% of the loan borrowed. This finance charge is capitalized as part of the cost at which the truck will be reported in the accounting records of the company.
"Group decision making is better". Do you agree or disagree with the statement? Give 3 reasons why do you say so?
Answer:
I agree because it make the group bring out more ideals
sometimes group decision make some people to voice out their problems
group decision help organization and firms to operate in good aims
30 points, please help
Answer: You didn’t post a picture can you please post it so I can answer it?
Explanation: I’ll help you but add a picture.
Answer:
Explanation:
? There’s no picture, :(
_____ planning is short-range, detailed planning that is based on long-range planning. It typically has a time frame that is less than one year long. Tactical Strategic Hands-on Procedural
Answer: Tactical planning
Explanation:
In tactical planning, a company's strategic plan is planned and ways are generated to achive the objectives of a company by using short-term actions.
Tactical plans are required to help teams to accomplish their goals by utilizing the steps that are clearly defined through short term outcomes and it is usually less than a year.
Why do you think it is important to consider both salary and benefits when applying for a job?
Answer: It is important because an employee needs to have other rights beyond a salary.
Explanation: Although it is true that a person who applies for a job in return receives a salary, many times the work to do for the development and well-being of the company is greater than what he receives. Many people work tirelessly so that the place where they are working can continue to function properly. In many cases, the salary you receive is a salary that may be little and that does not compensate for many things. The benefits give the employee the opportunity to enjoy certain things and thus lighten the burden of him since not everything has to come from salary.
Interpersonal communication skills are necessary because they allow people _ and weigh the pros and cons of alternatives before coming up with the final solution.
to discuss problems
to make agreement between co-workers easier
to delegate work responsibilities
to resolve legal issues in the company before they hit the media
Given the following information for Atlas Travel, prepare a bank reconciliation statement for December 31. Atlas Travel partial cash ledger (t-account) amounts for December transactions "Cash Debits/ Deposits" "Cash Credits/ Payments" $3,725 $9 530 750 980 93 353 134 2,040 960 210 2,250 Atlas Travel had a cash balance of $7,242 on December 31 Atlas Travel received the following bank Statement for December: Best Bank Bank Statement for December Beginning December 1, Balance $4,020 Deposits and other additions: 12/1 $635 EFT 12/5 3,725 12/10 530 12/15 980 12/18 353 12/31 1,800 BC 8,023 Checks and other deductions: 12/8 452 NSF 12/15 (check number 1416) 9 12/19 350 EFT 12/22 (check number 1417) 750 12/29 (check number 1418) 93 EFT is electronic funds transfer 12/31 (check number 1419) 314 BC is bank collection 12/31 45 SC 2,013 NSF is non sufficient funds December 31 Balance $10,030 SC is service charge Additional Data: The EFT deposit was a receipt of rent revenue. The EFT deduction was payment of insurance expense. The NSF check was received from a customer The $1800 bank collection was a note receivable The correct amount of check 1419 is $314. Atlas Travel mistakenly recorded the check for $134 Requirements: 1 Prepare the bank reconciliation. Atlas Travel Bank Reconciliation December 31, 20## Best Bank Balance, Dec. 31 Atlas Travel Balance Dec 31
Atlas Travel Bank Reconciliation
December 31, 20##
Best Bank Balance, Dec. 31 $10,030
Atlas Travel Balance, Dec. 31 $7,242
Outstanding Checks:
Check Number 1416 $9
Check Number 1417 $750
Check Number 1418 $93
Check Number 1419 $314 (Corrected amount)
Add:
EFT Deposit $635
Bank Collection $1,800
Subtract:
NSF Check $452
EFT Deduction $210
Service Charge $45
Adjusted Atlas Travel Balance, Dec. 31 $8,281
Start with the Best Bank Balance from the bank statement: $10,030.
Compare it with the Atlas Travel Balance from the cash ledger: $7,242.
Identify any outstanding checks (checks issued but not yet cleared by the bank):
Check Number 1416: $9
Check Number 1417: $750
Check Number 1418: $93
Check Number 1419: $314 (Corrected amount)
Add any deposits or credits that have not yet been recorded in the cash ledger:
EFT Deposit: $635
Bank Collection: $1,800
Subtract any deductions or payments that have not yet been recorded in the cash ledger:
NSF Check: $452
EFT Deduction: $210
Service Charge: $45
Calculate the adjusted Atlas Travel Balance by adding the outstanding checks, subtracting the deductions, and adding the deposits: $8,281.
Therefore, after reconciling the bank statement with the cash ledger, the adjusted Atlas Travel Balance on December 31 is $8,281.
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