The going concern principle, the time period principle, the full disclosure principle, and the revenue recognition principle are the four general accounting principles from the options offered.
What is meant by accounting principles?The rules and recommendations known as accounting principles serve as a guide for accounting users when creating and completing accounting reports.
These are accounting's guiding principles:
According to the "going concern principle," a company's existence is unbounded.According to the "time period principle," an entity should divide its activities into several time periods.The full disclosure concept states that no information should be kept secret and that all material information must be published in the financial statements.The idea of revenue recognition states that income is recognized as earned and expense is recorded as incurred. It would be meaningless in this paradigm to accept cash as payment or as a receipt.Therefore, the principles related to accounting process has been explained as above.
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what is the future value of $100 compounded for 50 years at 10 percent annual interest?
The future value of $100 compounded for 50 years at 10% annual interest is $28,938.41.
What is compound interest theory?
The theory used in this question is the compound interest theory, which states that the future value of a sum of money can be calculated by multiplying the present value by the sum of 1 plus the interest rate, raised to the power of the number of years that the money will be compounded for.
The steps for calculating future value are as follows:
Step 1: Calculate the present value (PV) of the future sum.
PV = $100
Step 2: Calculate the number of years (N) that the money will be compounded for.
N = 50 years
Step 3: Calculate the annual interest rate (r).
r = 10%
Step 4: Calculate the future value (FV) of the money.
FV = PV x (1 + r)^N
FV = $100 x (1 + 0.10)^50
FV = $28,938.41
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a distinguishing characteristic of services that makes them unable to be touched or sensed in the same manner as physical goods is referred to as what?
Intangibility is a defining feature of services that prevents them from being felt or perceived in the same way as tangible products.
It might be challenging to evaluate the quality of a service since it lacks perceptible or physical qualities. Services cannot be seen, felt, tasted, or touched in the same way that products can be in the same way that they can be perceived, according to Zeithaml et al. This is because they are performances rather than physical items. one of the four distinguishing qualities of a service, together with inseparability, perishability, and variability; intangibility reflects the idea that a service lacks a physical basis. The resources a company holds that are not physical but nonetheless have actual worth are known as intangible assets.
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your client wants to purchase a residence for his aging parents, while minimizing the burden of ownership of the property for them and maximizing their enjoyment of it. which one of the following states an advantage of titling the property in your client's name as sole owner rather than in joint tenancy with right of survivorship with his parents? a) he will avoid gift tax liability by titling the property this way. b) his parents will have a life estate in the property if he predeceases them. c) the property will pass to his parents outside of probate. d) the property will receive a step-up in basis when his parents die.
By naming the property in this manner, he will avoid gift tax liability. Hence, the correct answer is (a) he will avoid gift tax liability by titling the property this way.
What exactly is joint tenancy?A "joint tenancy" is a legal arrangement in which two or more persons have equal rights and obligations and share ownership of a property. Joint tenancies can be arranged by friends, family, and business partners, as well as married and unmarried couples. This legal connection establishes a right of survivorship, which implies that if one of the owners dies, their interest in the property is automatically transferred to the remaining party(s) without the need for probate or the judicial system.
Joint tenancy is a type of property ownership that is most commonly linked with real estate.In a shared tenancy, each person has an equal stake in the property, including financial duties as well as any advantages.To learn more about joint tenancy", click
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a business reports $125,000 for equipment and $93,000 for accumulated depreciation-equipment on its balance sheet. what is the book value of the equipment? group of answer choices $32,000 $218,000 $93,000 $125,000
The book value of the equipment is $32,000. Therefore the option 1 is correct.
What is the book value of equipment?The book value of an asset is calculated as the asset's original cost minus accumulated depreciation, where accumulated depreciation is the average annual depreciation multiplied by the asset's age in years.Subtract the item's original cost from the accumulated depreciation to determine the book value. Accumulated depreciation is the total decrease in value over the years the item was used. Book value is calculated as follows: Book Value = Cost - Accumulated Depreciation.Here given that,
Cost = $125,000
Accumulated depreciation = $93,000
Using the formula of book value:
Book value of equipment = cost - accumulated depreciation
By substituting the values,
Book value of equipment = $125,000 − $93,000
= $32,000
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The equipment's book value is $32,000. As a result, choice 1 is the best one.
On a balance sheet, how do you show accumulated depreciation?On the balance sheet, accumulated depreciation is not shown separately. Instead, a credit is recorded in a counter asset account, lowering the fixed asset value.
Which financial statement shows the total amount of depreciation over time?Accumulated depreciation is a running sum of the depreciation expense recorded on the balance sheet, whereas depreciation expense is presented on the income statement as any other typical business expense.
Cost = $125,000
Depreciation over time equals $93,000
Using the book value formula:
Equipment cost minus accumulated depreciation equals book value.
After changing the settings,
Equipment's book value is $125,000 minus $93,000.
= $32,000.
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The three-stage process that firms use to engage customers through social, online, and mobile media involves
The three-stage process that firms use to engage customers through social, online, and mobile media is known as the social media marketing funnel. The stages of the social media marketing funnel are:
Awareness: The first stage is to raise awareness of a brand, product or service by reaching a large audience through social media platforms. Consideration: The second stage is to engage with potential customers and encourage them to consider the brand, product or service by providing more information, such as through online content or mobile advertisements.Conversion: The final stage is to convert leads into customers by encouraging them to take a specific action, such as making a purchase or signing up for a service. This is typically done through targeted campaigns and personalized messaging on social media and mobile platforms.It should be noted that this process is not linear and customers may move back and forth between stages.
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true or false: firms in which shareholder wealth maximization is not the primary goal may be susceptible to poor stock price performance.
The given statement "firms in which shareholder wealth maximization is not the primary goal may be susceptible to poor stock price performance" is True because shareholder's wealth due to an increase in share price.
The shareholder of a corporation is an individual or legal entity that is registered by the corporation as the legal owner of shares of the shares capital of a public or private corporation.
The shareholder of any company have a responsibility to ensure that the company is well run and well managed. The firms in which shareholder wealth maximization is not the primary goal may be susceptible to poor stock price performance.
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scott spent one ninth of his allowance on a newspaper, and two fifths of his allowance on a snack. f he has $2.20 left, how much does he get for an allowance?
The amount he gets for allowance is $4.50
Amount left after spending = $2.20
A recurring payment which is ideally made to a person to cover requirements or expenses is referred to as an allowance. It thus, represents a sum of money granted or allotted, typically on a regular basis for a certain use.
Let the allowance be = x
Amount spent on newspaper = x/9
Amount spent on snacks = 2/5x
According to the question, determining the value of allowance -
x - x/9 - 2x/5 = 2.2
45x - 5x - 8x/45 = 2.2
45x - 5x - 8x/= 2.2 x 45
22x = 99
x = 99/22
x = 9/2
x = 4.5
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in a company where units are given autonomy to work independently, but are now asked to work together, the units may become territorial and refuse to share ideas for fear of being eliminated. this functional structure will produce which drawback?
Units that have been given authority to operate independently but are now expected to collaborate may become territorial and refuse to share ideas out of concern that they would be removed. This functional structure will cause errors to cascade.
Small faults are always a possibility in sophisticated computer systems. Sometimes these mistakes go unnoticed, and things quickly get back to normal. Sometimes an error leads to a subsequent issue that is connected to it, which then feeds back into the first issue or possibly causes more in another area of the system. Cascading failures are the result of a domino effect of growing failures brought on by positive feedback processes.
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The contra-asset account, ______, is used to record depreciation on equipment.
Contra Depreciation
Depreciation Expense
Equipment
Accumulated Depreciation
Accumulated Expense
Accumulated Accretion
The correct answer is Accumulated Depreciation, The contra-asset account, Accumulated Depreciation is used to record depreciation on equipment.
How does accumulated depreciation work?The total amount of depreciation applied to an asset up to a specific point is termed as accumulated depreciation. The starting cumulative depreciation amount is raised with each period started depreciation expense.
Which is preferable, expenditure or depreciation?Due to the fact that money has a time value, it is often preferable to cost an item instead of depreciate it. When you expense it, you are entitled to the deduction for the current tax year. The money which the expenditure deduction has allowed you to keep tax-free can be used this year.
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3. calculate the selling price per unit. 4. calculate the variable cost per unit. 5. calculate the contribution margin per unit.
The sales price from one unit of products less the variable manufacturing expenses is the financial aspect per unit.
How much of a margin is 30%?The profit margin, which is typically represented as a percentage, is the margin by which a company's sales revenue exceeds its costs. Additionally, it can be expressed as net profit or profit divided by the sales. For instance, a profit margin of 30% indicates that for every $100 in revenue, $30 is made in net income.
How can I figure out the margin?Start with your net income, which is the disparity between revenue and COGS, to figure out your profit margin. Next, determine what proportion of the revenue is the gross income. Divide your gross margin by your revenue to get this.
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consider the local music scene in your area. how would you characterize the market for local musicians
The market for local musicians can be described as having perfect competition define the market for local musicians.
How can we help local musicians in our town or city?This list demonstrates it, so there are no more excuses!
Learn More About Your Local Music Scene.
Donate Whatever You Want! .
Encourage Future Musicians.
Share The Wealth.
Regularly Attend Events.
Support Artist Efforts.
Support Local Music Industry Efforts.
They all began as local musicians pursuing their dream of inspiring others through their music. I've listed all of the major reasons why you should support your local musicians!
Attending major artist concerts can be a lot of fun, but the chances of meeting and conversing with the musicians are slim unless you buy a meet and greet, which can be expensive. The capacity of the audience can also make finding a good spot or area to watch the performance difficult. Attending a local artist's show, on the other hand, can be just as enjoyable, and you'll almost certainly be able to meet and make friends with the musicians and their supporters.
If you're anything like me, You, like me, enjoy music festivals and concerts, but your wallet doesn't always agree (living in the Live Music Capital of the World doesn't help).
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in a survey of more than 300 hr executives in asia, what were considered to be the top two challenges for hr managers during the covid-19 pandemic?
Managers’ HR challenges vary by location, industry, and company size, but it’s clear that many companies need to tighten their belts.
Her HRM challenges during Covid include organizing employees to work remotely, supporting employee mental health and wellbeing, and motivating and engaging employees. Increase. During these difficult times, many businesses are struggling to keep their doors open and all must find ways to keep their employees safe, comfortable and productive. Not. In the next few days, some of the most important HR challenges of our time will arise. Identifying and implementing effective employee policies and support can make or break your organization in the uncertainty of the coming months. Many HR challenges have surfaced during Covid as this pandemic has upended normal business operations.
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What form do you use to file a tax return with the irs?
U.S. taxpayers complete an annually income tax return using Form 1040. Your company sends you the W-2 form in January of each year detailing your wages and deductions. You file your tax return using form 1040.
Where can I find IRS online tax forms?The most recent or missing form can be obtained via fax by dialing 703-368-9694. Not just making a toll-free phone from your smartphone and read the voice directions, but rather using a printer and follows the adapts to have the paper faxed back to you.
Are the 2022 IRS tax forms available?You might electronically file the tax filings and schedules specified below for the 2023 tax year using eFile.com between November 2020 and October 16, 2023. It's never too early to begin tax preparation, so utilize the 2021 Online Tool to estimate your 2022 tax liabilities.
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Lin corporation has a single product whose selling price is $134 and whose variable expense is $67 per unit. The company's monthly fixed expense is $32,300. 2. Value: 2. 00 pointsrequired information required: 1. Using the equation method, determine for the unit sales that are required to earn a target profit of $7,900. (round up your answer to the nearest whole number. )
We can use the continuity formula to figure out the number of units sold necessary to reach our target profit of $7,900: Target Profit x Units Sold = (Price - Variable Expense) x Total Sales + Fixed Expense.
What are some examples of fixed expenses?Rent, mortgage payments, and car payments are examples of fixed expenses that typically cost the same amount each month, whereas variable expenses fluctuate from to month to month.
Adding this same important characteristics:Units Sold x ($134-$67) = $7900 + $32300
Units Sold x $67 = $40100
Units Sold: ($40,100/$67) = 600 (approx)
Thus, in order for Lin Corporate entity to achieve its target profit of $7,900, 600 units must be sold.
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in a perfectly competitive market firms can charge whatever price they want. group of answer choices true false
The only significant choice a fully competitive corporation must make is how much product to produce.
A totally competitive corporation is unable to control the price it charges because it must accept the price for its output that is established by the supply and demand for the product in the market. In other words, since the price is predetermined by the profit formula, a firm that operates in a fully competitive market can sell any quantity of units at the same price.
This suggests that the firm's product has a completely elastic demand curve, meaning that customers are willing to purchase any quantity of the firm's output at the going rate.
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which of the following is an example of normative economics? group of answer choices the minimum wage has not kept pace with inflation. a higher minimum wage is expected to increase the price of a fast-food cheeseburger. the minimum wage is an important tool in fighting poverty and should be increased. the minimum wage can create higher unemployment for teens and unskilled workers.
Furthermore, it is normative to say that the minimum wage is desirable because the earnings of the poor have increased because it shows that the minimum wage is generally advantageous.
What is an example that is normative?
"The government should provide all citizens with access to basic healthcare," is an illustration of a normative economic statement. You can infer from this statement that it is value-based, based on individual perspective, and meets the standard of what "should" be.
Normative claims are founded on values or moral principles, or what a person thinks ought to be. Positive assertions, however, can be put to the test even if they aren't always true.
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today, the average american worker changes jobs six times by the age of thirty. group of answer choices false true
This statement is False. According to the Bureau of Labor Statistics, the average American worker changes jobs only 4.2 times by the age of thirty. Of course, this number can vary depending on the individual, their career path, and the industry in which they work.
For example, workers in certain fields, such as technology, may change jobs more often than workers in other fields. In addition, some workers may take a break in their careers or start a job outside of their preferred industry, leading to a higher number of job changes. Ultimately, the exact number of job changes an individual will make before age thirty depends on a number of factors. Additionally, the study found that the average worker stayed with their current job for almost four and a half years.
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if a company increased its price from $100 to $120 and the quantity demanded fell by 40%, the price elasticity of demand for its product is
If a company increased its price from $100 to $120 and the quantity demanded fell by 40%, the price elasticity of demand for its product is -2.
The degree to which the effective desire for a commodity changes as the price of that commodity changes is referred to as price elasticity of demand. In general, it has been found that when commodities get more expensive, people's willingness to purchase them varies.
The Elasticity of Demand, or the responsive degree of Demand, can be calculated by comparing the percentage change in Price with the quantity of Demand for that commodity. In this essay, we will examine the notion of Price Elasticity of Demand.
Price elasticity of demand = change in quantity demanded/ change in price
We have change in quantity demanded as 40%, so we will calculate change in price
Change in price = (New price - original price) / original price * 100
= (120 - 100)/100 *100
= 20/100 *100
= 20%
Price elasticity = 40% / 20%
= 2
Price elasticity is written in negative, so it will be -2.
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michael julius received an $39,600 payment in advance on a three-month contract to install a water purification system. by month-end the project is one-third completed. determine the amount of revenue to be recognized in the current period.
The amount of revenue to be recognized in the current period would be $13,200 ($39,600 x 1/3). This is because the revenue recognition principle states that a company should only recognize revenue when it has been earned, and not when it is received.
Since the project is only one-third completed, the company has only earned one-third of the total payment and can only recognize that amount as revenue. Thus, the amount of revenue to be recognized in the current period is $13,200. To properly recognize revenue, a company must ensure that it is being recognized at the same time as its related costs.
This helps to ensure that revenue is properly reported and the company's financial statements reflect a true and fair view of the company's financial position. In this case, since the project is only one-third complete, it would be necessary to recognize the related costs (such as labor, materials, etc.) on a proportional basis.
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who determines whether an authorization is required or whether the requirement for an authorization may be waived?
The organization's IRB, privacy board, or a designated privacy official decides whether an authorization is required or whether the requirement for an authorization may be waived.
The organization's Institutional Review Board (IRB), Privacy Board, or a designated Privacy Official is responsible for determining whether an authorization is required for the use or disclosure of protected health information, or if the requirement for an authorization may be waived.
An Institutional Review Board (IRB) is a committee that is responsible for the ethical review of research involving human subjects. This decision is based on the type and scope of the research, and must adhere to the standards set by the organization or government regulations.
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if you put up $47,000 today in exchange for a 6.75 percent, 14-year annuity, what will the annual cash flow be
The value of Annual cash flow will be $ 5294.88
Cash flow from operational activities (CFOA) is a measure of, in part, the cash coming in and going out during a firm's daily operations. Net income is the profit a company has achieved for a period. The starting point for calculating cash flow from operational operations is net income.
Cash outflows from transactions regarded as operating operations, for instance: Operating costs and inventory purchases were made with cash. Cash for accumulated obligations and payroll activities. Cash was used to pay the interest.
Free Cash Flow = Net income + Depreciation/Amortization – Change in Working Capital – Capital Expenditure. Operating Cash Flow = Operating Income + Depreciation – Taxes + Change in Working Capital. Cash Flow Forecast = Beginning Cash + Projected Inflows – Projected Outflows = Ending Cash.
As we know,
The value of the annual cash flow can be determined by using the formula:
[tex]= P \times r \times \frac{(1+r)^n}{(1+r)^n}-1[/tex]
Where, P= Present value=$47,000
r=rate of interest=6.75 % or 0.0675
n= number of periods=14
So, the value of annual cash flow will be:
[tex]= $ 47,000 \times 0.0675 \times \frac{(1+0.0675)^{14}}{(1+0.0675)^{14}-1}\\\\= $ 47,000 \times 0.0675 \times \frac{(1.0675)^{14}}{(1.0675)^{14}-1}\\\\=$47,000 \times 0.0675 \times \frac{2.495}{2.495-1}\\\\=$47,000 \times 0.0675 \times \frac{2.495}{1.495}\\\\=$47,000 \times 0.0675 \times 1.6688\\\\=$5294.68[/tex]
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The complete question may be:
If you put up $47,000 today in exchange for a 6.75 per cent, 14-year annuity. FInd the annual cash flow.
mryn is deciding between three potential activities on saturday evening: 1) staying at home and watching her favorite television show, an activity that she values at $16 and that entails no out-of-pocket costs. 2) going to the movies with her sister to see the latest blockbuster action film, an activity she values at $28 and that entails $14 in out-of-pocket costs. 3) going out to dinner with her best friend, an activity she values at $30 and that entails $15 in out-of-pocket costs. a. which activity should kamryn choose?
Staying at home and watching her favorite television show an activity that she values at $18 and that entails no out-of-pocket costs.
What is out-of-pocket costs?Your medical costs that your insurance does not cover. Deductibles, copayments, and coinsurance for covered services, as well as any fees for uninsured procedures, are considered out-of-pocket expenses. The amount you must pay before your insurance starts to pay out in accordance with the conditions of your policy is known as a deductible. The costs associated with that particular option are one of the aspects that Kamryn must take into account when choosing her activity. In the first case, the expenses are minimal, and Kamryn will still enjoy her evening in comfort while also making a small financial save.An out-of-pocket payment known as a copayment is made to cover common medical expenses including doctor appointments and emergency department visits. The annual cap on how much you must pay out of cash for approved medical expenses is known as an out-of-pocket maximum.To learn more about out-of-pocket costs refer to:
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A Canada-based investor buys shares of Toronto-Dominion Bank (Toronto: TD. TO) for C$72. 08 on 15 October 2007 with the intent of holding them for a year. The dividend rate was C$2. 11 per year. The investor actually sells the shares on 5 November 2007 for C$69. 52. The investor notes the following additional facts:
No dividends were paid between 15 October and 5 November. The required return on TD. TO equity was 8. 7 percent on an annual basis and 0. 161 percent on a weekly basis.
Calculate the investor's realized return over the holding period, Calculate the realized alpha
Realized Return: The investor's realized return over the holding period is -4.33%. The difference between the sale price of C$69.52 and the purchase price of C$72.08 and dividing it by purchase price of C$72.08.
What is investor?
An investor is an individual or organization that puts capital to work in a financial endeavor with the expectation of generating income or capital gains. Investors may seek different types of investments such as stocks, bonds, commodities, derivatives, mutual funds, real estate, or other financial instruments. Investors typically make decisions based on their financial goals, preferred risk level, and expected rate of return.
Realized Alpha: The investor's realized alpha over the holding period is -4.50%. This is calculated by taking the difference between the realized return of -4.33% and the required return of 8.7% and dividing it by the required return of 8.7%.
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Provided deposit insurance to depositors in us banks in order to restore trust in the american banking system. True or False?
The Federal Deposit Protection Corporation (FDIC) is a government-run organization in the United States that offers deposit insurance to depositors in American commercial institutions.
What does deposit insurance in the US style mean for banks?
The U.S. government's full confidence and credit is a guarantee of the FDIC insurance. Up to $250,000 per depositor, per FDIC-insured bank, and per ownership category is covered by the FDIC. This assures customers that their money is secure as long as they stay within the set parameters.
Are deposits insured at US banks?
The standard insurance amount is $250,000 per depositor, each insured bank, for each type of account ownership. Additionally, you are not required to buy deposit insurance. You are immediately covered if you open a deposit account with a bank that is FDIC-insured.
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the use of quantitative tools and scientific methods to analyze data from hr databases to make evidence-based business decisions is called .
Workforce analytics is the process of analyzing data from human resources databases using quantitative tools and scientific approaches in order to make fact-based business choices.
What is meant by Workforce analytics?Workforce analytics is the practise of analyzing data from human resources databases using quantitative tools and empirically supported scientific approaches.
The process of collecting, examining, and reporting HR data is known as HR analytics, sometimes known as people analytics, workforce analytics, or talent analytics. It helps your company to evaluate the effects of a variety of HR KPIs on overall business performance and make fact-based decisions.
Data analytics is the practise of looking at raw data with the intention of finding trends and making judgements. In the subject of human resources, data analytics is frequently used to assist HR professionals in making decisions regarding the future of their workforce that are better informed.
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what steps would you take to become more informed about the capabilities, strengths, and limitations of this system? what potential technical and non-technical issues are associated with this system? how might the citizens of gotham city react to installation of such a system?
As a council member, you can:
Research the technology: Study the technology behind the Domain Awareness System, its specifications, and its capabilities and limitations, to ensure a thorough understanding of the system's abilities and constraints.
Review case studies: Look for case studies of similar systems that have been implemented in other cities and review the results, both positive and negative. This will help me to understand the practical application of the system and the impact it may have on crime.
Consult experts: Reach out to experts in the field of surveillance and public safety to get their opinions and insights on the proposed system and how it may impact the community.
Review privacy concerns: Examine the potential privacy and civil liberties implications of the system, to determine whether the benefits outweigh any potential harm to citizens.
Engage the public: Reach out to the community and seek their opinions and feedback on the proposed system. This will give me a better understanding of how the citizens of Gotham City may react to the installation of such a system.
Potential technical issues with the system may include data security and privacy, the accuracy of the surveillance cameras, and the reliability of the gunshot detection devices. Non-technical issues may include privacy concerns, the financial impact of the system, and the ethical implications of increased surveillance.
Citizens of Gotham City may react differently to the installation of the Domain Awareness system, with some supporting the increased public safety it may bring, while others may object to increased surveillance and potential privacy violations.
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It is the year 2026 and you are one of five Gotham City council members. Violent crime has been a serious problem in your city for decades with more than 650 homicides/year. The city is considering spending $45 million to implement a new Domain Awareness surveillance system to cover the three community areas with the highest homicide rate—all with over 125 homicides per 100,000 residents. The Domain Awareness surveillance system includes 1,000 state-of-the-art surveillance cameras equipped with gunshot detection devices that can detect where a gun was fired to within 50 feet, license plate readers, and advanced analytic software designed to recognize suspicious activity or crimes in process. The surveillance cameras are designed to hand off to each other so that a suspect’s trail can be followed from one camera to the next. Although Gotham City’s annual budget exceeds $3 billion, the city has been running a deficit of over $200 million/year and a financial crisis is looming over a shortfall of some $300 million in the city employee’s retirement fund. City council meets in two weeks to consider a proposal to implement the Domain Awareness system. What steps would you take to become more informed about the capabilities, strengths, and limitations of this system? What potential technical and non-technical issues are associated with this system? How might the citizens of Gotham City react to installation of such a system?
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a political action committee (pac) is supporting the congressional race of a major political party. it has spent over $50,000 on negative advertisement against the other candidates. it's donated over $2,000 to a candidate in new hampshire and over $10,000 to a candidate in florida. it has also directly donated $12,500 to the party it supports. why did this pac break the law?
You are a member of a sizable political party and wish to openly support your preferred candidate.
What exactly do you mean by political?
Politics is the general term used to describe the processes involved in group decision-making or other forms of inter-personal power dynamics, such as the distribution of resources or status.
A political party is a group of people who come together to seek for office, run the government, and influence public policy. Right now, the Democratic and Republican parties are the two dominant ones in Congress.
Political influence refers to a person's or a group's ability to change the attitudes, habits, and opinions of a nation's citizens.
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a 6-month insurance policy was paid for and begain coverage on january 1 of the current year in the amount of $37,920. at some point during the year, $31,600 remains in the prepaid insurance account. how many months of coverage remain on this insurance policy?
There are still 1 months of coverage left on this insurance contract.
Insurance is a tool for risk management. You acquire protection against unforeseen financial losses when you purchase insurance. If anything unpleasant happens to you, the insurance company compensates you or someone else of your choosing. If you don't have insurance and an accident occurs, you can be liable for all expenses.
As per the data given in the above question are as bellow,
The details provided are bellow,
Current year in the amount of $37,920.
Some point during the year, $31,600
6-month insurance policy was paid.
Insurance premium every month = 37920/6 = $6320
As there is still $6,320 in prepaid insurance, 1 month's worth of insurance premiums are due.
Months of protection left = 1
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jack and jill were married for 12 years and resided in a common law state before jack had a fatal accident. they were happily married for the first eight years before a devastating disagreement that led them to live separate lives even though they remained married. since jack was mad at jill at the time he created his estate plan, he left jill a lump sum of $50,000 of his $9,000,000 estate and named his two children as the beneficiaries of the remainder of his estate. since jill's estate was valued at only $1,000,000, she was very disappointed at her minimal inheritance. she took the $50,000 when it was distributed to her by the personal representative, and then later informed the personal representative, in writing, that she is electing to use her state's spousal elective share statute. the personal representative correctly informed jill that she was not eligible to elect the spousal elective share statute. which one of the following statements identifies why jill is not allowed to make the election? a) jill cannot make the election to receive the spousal elective share because her children are the beneficiaries of the remaining estate and they are entitled to elect the family allowance statute. b) jill cannot make the election to receive the spousal elective share because such a distribution would increase the estate tax due on jack's estate. c) jill cannot make the election to receive the spousal elective share because she does not live in a community property state. d) jill cannot make the election to receive the spousal elective share because she already accepted the $50,000 distribution from jack's will.
Because she has accepted the $50,000 inheritance from Jack's bequest, Jill is not permitted to choose to receive the spousal elective portion.
What do you know about election?
Election is a process by which citizens of a country or region select government representatives. Elections are usually held periodically and are conducted by secret ballot in most countries. Eligible voters in a particular jurisdiction usually possess the right to vote in elections for representatives in their area, and in some cases, in elections for representatives at a regional, national or international level. Elections are typically conducted according to procedures established by law, and the outcome of an election is typically determined by the majority of votes cast. In some cases, elections may be held in order to determine who will fill an existing position, such as in the case of presidential or parliamentary elections. In other cases, elections may be held to determine whether or not a particular law or policy should be implemented.
So, The correct option is D.
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Drag each tile to the correct box. The finance team of a concert venue is drafting budget for succeeding year. Arrange the steps in preparing a budget. team computes annual expenses such as electricity bills, wages and taxes. all departments submit yearly estimated expenses. team prioritizes purchase of new stage lighting equipment. team dedicates some funds for emergency. submits report of estimated income and expense data. estimates fund needed for yearly bonus and employee training.
Developing a budget, Assessing your net income is the first step. Your net income serves as the cornerstone of an effective budget.Follow your expenditures, in step two.Goal-setting is the third step.Plan ahead in step four.
What actions should one take to create a budget?Developing a budget, Assessing your net income is the first step. Your net income serves as the cornerstone of an effective budget.Follow your expenditures, in step two.Goal-setting is the third step.Plan ahead in step four.The fifth step is to change your expenditure to stay within your means.Step 6: Consistently evaluate your spending plan.7-step process for creating a budget, Decide how much money you make. Create a list of every dollar you receive each month to get started.Create an expense plan. Create a list of your monthly expenses to help you understand where your money is going. Your balance should be calculated, Set goals for yourself,Construct a strategy,Keep moving forward, converse with.To learn more about budget refer to:
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