Answer:
b
Explanation:
took the test
Jim has an annual salary of $96,000. His monthly expenses include a $2,500 mortgage payment, a $250 lease payment, $500 in minimum credit card payments, and a $425 payment on his speed boat. He also receives $1,200 in interest from his savings and other accounts each month. Calculate Jim’s DTI (debt-to-income) ratio. A. 30% b. 35% c. 40% d. 45% Please select the best answer from the choices provided A B C D.
The debt to income ratio of Jim for the particular year is 40%.
How to compute the debt-to-income ratio?Given,
Annual salary =$96,000
Interest received on saving account (monthly) =$1,200.
The interest received for the entire year will be:
[tex]\begin{aligned}\rm{Total\; Interest \;Income}&=\rm{Monthly\;Income}\times12\\&=\$1,200\times12\\&=\$14,400\end{aligned}[/tex]
Monthly expenses:
mortgage payment =$2,500; lease payment =$250; minimum credit card payment =$500; and speed boat =$425.
The yearly expenses will be:
[tex]\begin{aligned}\text{Total Expenses}&=\text{Sum of all Monthly Expenses}\times12\\&=(\$2,500+\$250+\$500+\$425)\times12\\&=\$3,675\times12\\&=\$44,100\end{aligned}[/tex]
Now, the debt to income ratio is computed as follows:
[tex]\begin{aligned}\text{Debt to Income Ratio}&=\dfrac{\text{Total Expenses}}{\text{Total Interest Income + Annual Salary}}\\&=\dfrac{\$44,100}{\$14,400+\$96,000}\\&=0.399\;\text{or}\; 40\%\end{aligned}[/tex]
Therefore, option c. 40% is correct.
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A broker offered to list a prospective client's home only if the client agreed to let the broker find a new home for him. This is an example of A) a good deal for the prospective client. B) smart marketing by the broker. C) an illegal tie-in agreement. D) an acceptable arrangement if any cooperating broker in either transaction agrees to accept a reduced commission.
An example of illegal agreement is when the broker offered to list the prospective client's home if the client agreed to let him find a new home for him.
An illegal agreement refers to when a contract is agreed upon for an illegal reason where such reason are against the law.
The act of the broker in this case is seen as illegal because he is only suppose to negotiate and bargain.
Hence, the example of illegal agreement is when the broker offered to list the prospective client's home if the client agreed to let him find a new home for him.
Therefore, the Option C is correct.
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35. Eighteen percent of a circle graph is shown by a section of (1 point)
O 36 degrees.
O 64.8 degrees
O 18 degrees
0 48 degrees
Answer:
I looked it up and it said 68.4 percent, but I'm taking the test right now so I'll come back when I'm done
What is the name of the tab that becomes available after you add and select an image in your PowerPoint presentation?
Home
Insert
Picture
View
Answer: Picture tab
Explanation:
When you insert a picture, PowerPoint for the web places the picture on your slide and puts a Picture tab on the ribbon. With the picture selected, click the Picture tab.
Cisco is a 16-year-old with a part-time job. He makes $100 per week and spends $50 on car insurance each week. This is his only income and his only expense. Which type of budget would be easiest for Cisco?
A. a software-based budget
B. a mental budget
C. a physical budget
D. a written budget
Hi!
I think a mental budget would be best. If he only gets $100 a week and spends $50 of that on car insurance, he could simply remember that he makes a profit of $50 a week. It's not complex so a mental budget would be best.
Hope this helps :D
Discuss problems associated with trade deficit
Answer:
A trade deficit creates downward pressure on a country's currency under a floating exchange rate regime. With a cheaper domestic currency, imports become more expensive in the country with the trade deficit. Consumers react by reducing their consumption of imports and shifting toward domestically produced alternatives.
Which of the following is a service fee? an amount of money a bank charges?
O an amount of money a bank charges for the use of an account.
O an amount of money charged as interest on a credit card balance.
O a fee charged when there is not enough money in a checking account to cover a check.
O the minimum balance a bank requires to be deposited to opening a checking account.
^I am thinking D, but I am not certain. Could someone check please? Thanks!
Answer:an amount of money a bank charges for the use of an account.
Explanation:
When someone charges you money for them to do something it is called a service fee
A cross-functional work team is having difficulties in operating smoothly, and friction has developed among some of the members. Many of the strongest complaints are from the representatives of management who complain that the research scientists are disorganized, haphazard, and undisciplined. Managers complain that the scientists do not adhere to any fixed rules or procedures. On the other hand, the research scientists complain that the managerial representatives are excessively rule-oriented bureaucrats and have no flexibility or spontaneity. The MAIN problem with this team seems to be centered around differences in: _________
a interpersonal orientation
b.time orientation
c goal orientation
d. formality of structure
The main problem with this team seems to be centered around differences in the formality of structure.
Cross-functional Work Team
This type of work team happens when individuals or groups of different functions come together to work together towards a common goal. This can either be done by two or more team leads to take the initiative or if there is a certain company project where employees of specific skills are required from different departments to do the job.
Problems with Cross-functional Team
There are certain problems faced when working in cross-functional teams. One of which is time management, where the team must meet up to manage the project and to discuss its further development. In the given question "time orientation" this certainly is not the main problem.
Another important factor is that employee success is based on goals and objectives. In doing so, the individual becomes more focused on their personal goals and loses sight of what is more important to prioritize, which is the company as a whole. Of course, this means that neither the interpersonal nor the goal orientation is the main problem arising between the team.
Finally, when more individuals come together to form a team, there is a chance that there might be dominating personalities in the group. This would cause difficulties among the group unless a leader is determined to manage the team. Now, this is the main problem here, as there is no formality of structure defined. Resulting in the dispute between managers and scientists. To avoid any further dispute formal structure must be laid out and a leader should be appointed amongst them.
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Organizations must minimize _____ to match their risk appetite. a. access b. threats c. loss d. risk
To assist broker-dealers with compliance, NASAA prepared a fee disclosure template. Based on the template, all of the following broker-dealer charges would be disclosed except A) brokerage commissions. B) fees for issuance of stock certificates. C) account transfer fees. D) account maintenance fees.
Account transfer fees and account maintenance fees would not be disclosed as the broker-dealer charges.
NASAA means the North American Securities Administrators Association.
The NASAA prepared a fee disclosure template to assist broker-dealers with compliance.
Based on the template, the following broker-dealer charges which would be disclosed includes:
account inactivity feecharges for late paymentsissuance of a stock certificateaccount transfer feesIn conclusion, all of the following broker-dealer charges would be disclosed except the account transfer fees and account maintenance fees.
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Prime cost is directly related to production. So, per unit prime cost can be calculated easily. While on the other hand, overhead does not have direct relationship with production. So, to calculate per unit cost, overhead is classified according to functions.” Explain this statement and also summarize all the overheads according to their functional classification.
Basically, a firm's prime cost equals the total direct costs of production which includes the cost of raw materials and labor.
The prime cost equation is {Cost of raw materials + Direct labor}The overhead cost refers to those cost incurred while running a firm but can not be linked to creation of a product or service.
Overhead expenses is the cost remaining after deduction of direct labor, direct materials and direct expenses.
In conclusion, the prime cost and overhead cost are both significant in production of finished goods.
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Vincent owns an apartment building containing 15 rental units. Vincent pays $22,690 in taxes and building upkeep every year, and charges rent of $833 per month. Assuming that all of the rental units are full, how much does Vincent make from his apartment building every year? a. $127,250 b. $149,940 c. $35,185 d. $102,260.
The total amount Vincent will make each year from the apartments will be $127,250.
Computation:
Given,
Number of rental units =15The total amount paid in the form of taxes and for upkeeping of the building is $22,690.Charges for the rent of each apartment for each month are $833.
First, total rental income from all the 15 apartments for the entire year is computed as follows:
[tex]\begin{aligned}\text{Income from Rental Apartments}&=\text{Rent per month}\times\text{Total Units}\times12\\&=\$833\times15\times12\\&=\$149,940\end{aligned}[/tex]
Now, the net income is computed based upon the total income and total expense:
[tex]\begin{aligned}\text{Net Income}&=\text{Income from Rental Apartments}-\text{Taxes and Building Upkeep}\\&=\$149,940-\$22,690\\&=\$127,250\end{aligned}[/tex]
Therefore, option a. $127,250 is correct for the net income of Vincent from the rental property after paying off the taxes and charges for upkeeping the building every year.
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Answer:A) $127,250
Explanation:edge
Customer ________ is the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
The unique combination of the various benefits a target buyer receives can be referred to as: customer value.
What is Customer Value?Customer Value can be described as the perceived benefits a customer derives from purchasing a product or service when compared to other alternative of same products.Customer value = benefits less cost.Therefore, the unique combination of the various benefits a target buyer receives can be referred to as: customer value.
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What is the main advantage of having a skill set with a high market value?
A. Workers are more productive per hour using those skills.
B. Employers are willing to pay more for those skills.
C. Worker organizations have a major need for those skills.
D. There are fewer regulations restricting those skills.
By understanding the competency gaps that are generally perceived by employers, you should Multiple Choice be motivated to learn. seek high levels of achievement. believe in personal control of destiny. share diverse experiences.
Why does compound interest earn you a higher annual percentage yield
(APY) on savings accounts?
O A. Compounding interest earns more by investing your money in
stocks.
B. Compound interest doesn't really earn you more APY.
O C. Compounding means you earn interest on the money that has
already earned interest.
D. Compound interest gives you a yearly rate of return.
The reason compound interest earn you a higher APY on savings account is with compounding you earn interest on the money that has already earned interest.
With compound interest, interest is earned on the amount of money that has already earned an interest. On the other hand, with simple interest, interest is earned only on the principal.
Imagine that you deposit $100 in a savings account with an interest rate of 10% and annual compounding.
Value of the account in one year = 100 x (1.1) = 110
Value of the account in two years = 100 x (1.1)² = 121
Imagine that you deposit $100 in a savings account with an interest rate of 10% and simple interest.
Value of the account in one year = 100 + (100 x 0.1 x 1) = 110
Value of the account in two years = 100 + (100 x 0.1 x 2) = 120
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What features would you look for when purchasing your first home? Would you insist on a porch or a basement? What other things might you want your home to have?
i would insist on a stove to learn how to cook, and a porch because i want a house and not an apartment.
The debit balance in a nominal account shows:
a) Gains b) Expenses
c) Assets d) None of the above
(answer the above question correctly)
Why is it important to review all pages of this document carefully? What should Anna do if she finds an error?
Reviewing all pages of a document carefully helps ensure accuracy, completeness, and professionalism. If Anna discovers an error, she should take appropriate steps to rectify it based on its significance and potential impact on the document's content and purpose.
Thoroughly reviewing all document pages ensures accurate, complete information to prevent misunderstandings, legal problems, or financial errors. It maintains coherence, logical flow, and consistency. Scrutinizing all pages detects formatting, layout, or typographical issues, upholding professionalism. In vital contexts like legal agreements or financial reports, neglecting errors can lead to significant consequences.
Upon finding an error, Anna's action depends on its significance. Minor issues like typos can be directly corrected. For substantial errors affecting meaning or legality, she should highlight and annotate the problem, documenting necessary corrections. Anna must inform relevant parties, consult supervisors or legal advisors if needed, and adhere to document review protocols. After corrections, a final review ensures accurate and error-free content.
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#SPJ3
How familiar does a publicist need to be to do their job effectively?
Very familiar. It's the publicists job to make their client or company look good, with knowing past discrepancies of their client, they must do everything to keep up their client's image, as well as handling all their affairs in regards to, well, publicity, and getting their client known.
When building a new hospital, the developer did not remove any trees, based on the belief that doing so could compromise the ability of future generations to meet their own needs. This is an example of managing for
The actions of the developer in not removing any trees is in line with the practice of sustainability.
Sustainability:
Refers to using resources in a way that they can be used by others. Ensures that future generations are catered for.Sustainability ensures that the next generation can take care of themselves because resources will be left that the next generation can survive on. Practicing sustainability like the developer above did, ensures human survival.
In conclusion, this is sustainability.
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rent seeking is the lobbying for special treatment from the _____ to _____ or to divert consumer surplus or producer surplus away from others.
Answer: government; create economic profit
Explanation:
Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows.
Year 1:
Sold $1,346,200 of merchandise (that had cost $976,400) on credit, terms n/30.
Wrote off $20,700 of uncollectible accounts receivable.Received $670,500 cash in payment of accounts receivable.
In adjusting the accounts on December 31, the company estimated that 2.00% of accounts receivable would be uncollectible.
Year 2:
Sold $1,599,900 of merchandise (that had cost $1,304,800) on credit, terms n/30.
Wrote off $28,300 of uncollectible accounts receivable.
Received $1,219,300 cash in payment of accounts receivable.
In adjusting the accounts on December 31, the company estimated that 2.00% of accounts receivable would be uncollectible.
Required:
Prepare journal entries to record Liang’s Year 1 and Year 2 summarized transactions and its year-end adjustments to record bad debts expense.
Answer:
General Journal
Debit
Credit
a(1)
Accounts receivable
$1,349,100
Sales
$1,349,100
a(2)
Cost of goods sold
$977,100
Merchandise inventory
$977,100
b
Allowance for doubtful accounts
$18,100
Accounts Receivable
$18,100
c
Cash
$669,200
Accounts Receivable
$669,200
d
Bad Debt
Expense
[Refer working note 1]
$35,307
Allowance for doubtful accounts
$35,307
e(1)
Accounts receivable
$1,514,600
Sales
$1,514,600
e(2)
Cost of goods sold
$1,299,000
Merchandise inventory
$1,299,000
f
Allowance for doubtful accounts
$26,700
Accounts Receivable
$26,700
g
Cash
$1,110,700
Accounts Receivable
$1,110,700
h
Bad Debt
Expense
[Refer working note 2]
$36,507
Allowance for doubtful accounts
$36,507
.
.
Working note 1 - Computation of bad debt expense for the
year 1
Accounts receivables beginning balance
$0
Add: Credit sales
$1,349,100
Less: Collections
($669,200)
Less: Write-off's
($18,100)
Accounts receivables ending
balance
(a)
what are the different theories of liquidity
Pls try your best to answer
Pick regular income if it's a regular income and irregular if it's not
1. Wages and salaries
Regular Income
Irregular Income
2. Pensions
Regular Income
Irregular Income
3. Short time work support
Irregular Income
Regular Income
4. Fees from services
Regular Income
Irregular Income
5. Overtime payment
Regular Income
Irregular Income
6. Bonus payment
Regular Income
Irregular Income
7. Commission
Regular Income
Irregular Income
8. Profit
Regular Income
Irregular Income
9. Fees from rent
Regular Income
Irregular Income
10. Lottery wins
Irregular Income
Regular Income
Answer:
1.Regular Income
2.Regular Income
3.Irregular Income
4.Irregular Income
5.Irregular Income
6.Irregular Income
7.Regular Income
8.Regular Income
9.Irregular Income
10.Irregular Income
Explanation:
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What can the government do to reduce consumer demand for loans?
Answer:
Increase interest rates
Explanation:
The higher the interest rates that consumers have to pay may dissuade them from borrowing.
Which of the following is something a "smart pick list" does NOT help pickers do?pick materials based on order of deliverypick materials based on due datephysically lift heavy itemspick materials using a pre-programmed, efficient route
Answer:
physically lift heavy items
Explanation:
pick materials based on order of delivery (that makes sense so you know when everything comes in)
pick materials based on due date (that makes sense so you how to plan and order everything to line up right)
pick materials using a pre-programmed, efficient route (that makes sense so you have a guide! You won't have to stress this way and it's seems simple.)
physically lift heavy items (that doesn't makes sense if they're heavy you'll be wasting your time fighting up with it. Have people help do that.)
What guidelines must colleagues follow when providing gifts, meals, entertainment or other things of value to clients, customers, or third parties
The guidelines that is needed to be followed by colleagues when providing gifts, meals or entertainment to clients are;
The colleagues should make sure gift or entertainment is not been perceived as a bribe by clients.The gifts or entertainment must be consistent as regards the accepted business practice.The gift should not make the recipient to feel insecure in making a fair decision.When gifting out some meals or entertainment to clients, there are some necessary consideration that is needed to be made so that the recipient won't feel unsecured with the gift.
In the process of gifting, one of the guidelines is that the gift should look like a bribe which means it must be aligned with business or practice of the organization
We can conclude that when a colleagues when providing gifts, meals to clients it should be done in way that follows accepted business practice.
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which statement best explains why money was invented?
what describes the specific information about a policy
Policy summary is what describes the specific information about a policy.
Policy is a term, commonly associated with insurance . It is a set of rules or guidelines for an organization and employees to follow in or to achieve a specific goal (i.e. compliance).
A policy summary describes the features and elements of the specific policy for which a person is applying.
Policy summary contains the following :
Name and address of the producerName of the policy issuedPremiumSurrender valueTherefore, Policy summary is what describes the specific information about a policy.
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