to help minimize bad debt expense and provide feedback, a good internal control system will require:

Answers

Answer 1

To help minimize bad debt expense and provide feedback, a good internal control system will require to evaluate the creditworthiness of its customers and should have a robust accounting system to monitor receivables.

The company should evaluate the creditworthiness of its customers before extending credit or services to them, to minimize bad debt expense. The company can obtain a copy of the customer's financial statements or hire an external credit rating agency to review the customer's creditworthiness.

The company should have a robust accounting system to monitor receivables, identify delinquent accounts, and develop a plan for collecting overdue payments. The system should provide frequent reports to management on receivables aging, collection activity, and bad debt expense.

The company should have a credit policy in place that outlines the terms and conditions of credit sales, including payment terms, credit limits, and penalties for late payment or non-payment. Customers should be informed of the credit policy and should agree to it before any credit is extended.

To know more about bad debt expense, refer here:

https://brainly.com/question/29343346#

#SPJ11


Related Questions

what are three advantages of learning the native language when conducting international business?multiple select question.prevent major blunders through improper translation.it is easier to price products/services.helps build rapport.people prefer to speak in their own language.

Answers

Advantages of learning the native language when conducting international business are:

1. Prevent major blunders through improper translation.

It is a known fact that the language of business is English. However, not everyone has a perfect understanding of the language, which can lead to major blunders during communication.

There is always a risk of being misinterpreted when one is not completely familiar with a language.

One way of avoiding such errors is by learning the native language of the international market you are targeting.

It helps one to understand the cultural nuances and use the correct vocabulary. It also shows that you have a genuine interest in doing business with them.

2. Helps build rapport. Learning the native language of the people you want to do business with, shows that you are committed and invested in the relationship.

It is a known fact that building trust is crucial for business relationships. Being able to communicate in the native language is one way of developing trust.

It also makes it easier to understand the cultural differences that might exist. This, in turn, allows you to tailor your business approach according to the needs of your clients.

3. People prefer to speak in their own language. It is natural to feel more comfortable while communicating in your native language.

The same applies to people from other parts of the world. They feel more comfortable communicating in their native language.

In fact, research shows that more than 70% of the world's population prefers to communicate in their native language.

Therefore, learning the native language of the people you want to do business with makes it easier for them to communicate with you in their native language.

It creates a sense of comfort, which can help you to close deals faster.

Additionally, it makes it easier to negotiate deals because you can use idiomatic expressions and local phrases that are not commonly used in English.

To know more about communication here

https://brainly.com/question/15125209

#SPJ11

an applicant can register a trademark on the basis of either use or the intention of use of the mark in commerce. group of answer choices true false

Answers

The statement "an applicant can register a trademark on the basis of either use or the intention of use of the mark in commerce" is true as  A trademark can be registered on the basis of either use or the intention of use of the mark in commerce

Use of a trademark refers to actually using the mark in commerce for goods or services, while the intention to use a mark means that the applicant has a good faith intent to use the mark in the near future for their goods or services.

It is important to note that merely having an idea for a trademark does not constitute an intention to use the mark. An applicant must provide evidence of the intention of use in order to register a trademark.

To know more about trademark click on below link:

https://brainly.com/question/28851180#

#SPJ11

A _____ layout is an arrangement based on the sequence of operations that are performed during the manufacturing of a good or delivery of a service.O product O process O cellular O fixed-position

Answers

A process layout is an arrangement based on the sequence of operations that are performed during the manufacturing of a good or delivery of a service.

In a process layout, the workstations or departments are organized according to the specific tasks or processes they perform. This type of layout is efficient for manufacturing goods or delivering services that involve multiple steps or processes. To create a process layout, you can follow these steps:

1. Identify the sequence of operations needed to produce the good or deliver the service.


2. Determine the amount of space needed for each operation.


3. Arrange the workstations or departments in a logical sequence to minimize the movement of materials, products, or people.


4. Allocate space for storage, inspection, and maintenance.


5. Consider the use of automation or other technologies to streamline the process.

Process layouts can be flexible and easily adaptable to changes in demand, product design, or process technology. However, they can also result in higher material handling costs and longer processing times if not designed and managed effectively.

To know more about process layout click on below link:

https://brainly.com/question/30791934#

#SPJ11

which are some types of stakeholder relationships that a local chamber of commerce would have? (select all that apply.) select one or more: a. minority- and women-owned small business owners b. local and regional governments c. environmental agencies d. pet owners

Answers

Option b is Correct. Local and regional governments are some examples of the stakeholder ties that a local chamber of commerce would have.

Competitors aren't thought of as stakeholders relationships. Consumers are seen as key stakeholders. The combination of commercial activity, environmental responsibility, and social impact on the environment and other stakeholders is approached in the short term as sustainability. The most important stakeholders in a firm are its employees. They are the ones that create the products or offerings that bring in money.

There wouldn't be any business without them. Internal stakeholders include workers. Employees, clients, and investors are the first and most crucial group, without whom the company cannot function. Suppliers, neighborhood organizations, and media influencers are secondary to them.

Learn more about stakeholder relationships Visit: brainly.com/question/30090843

#SPJ4

a typical host government requirement that is not said to impact the operations of foreign companies is

Answers

A typical host government requirement that is not said to impact the operations of foreign companies is the legal requirement for a work permit. A work permit is a legal document that allows a foreign national to work in a host country. The permit is usually issued by the host government, and it is typically required for all foreign workers, including those employed by foreign companies.A work permit is an essential requirement for a foreigner to work in a country. In many countries, work permits are issued by the host government to ensure that foreign workers have the necessary qualifications and experience to perform their job. The work permit is also used to ensure that foreign workers are legally entitled to work in the country and that they have the necessary visas to enter the country.The legal requirement for a work permit does not impact the operations of foreign companies. However, the company may be required to apply for a work permit on behalf of its foreign employees. The process of obtaining a work permit can be time-consuming and costly, so foreign companies need to plan accordingly.Foreign companies may also need to comply with other host government requirements, such as taxation, registration, and licensing requirements. Failure to comply with these requirements can result in fines, penalties, or even expulsion from the country. Therefore, foreign companies need to ensure that they are aware of all the legal requirements in the host country and that they are complying with them.

A typical host government requirement that is not said to impact the operations of foreign companies is "requiring foreign companies to use vertical integration to support operations of local companies."

What are the typical host government requirements?

Host government requirements are conditions that a foreign country imposes on the operations of foreign businesses in its territory. Typical host government requirements include local content requirements, ownership constraints, operational standards, location preferences, and trade performance requirements.

Requiring foreign companies to use vertical integration to support the operations of local companies is not a typical host government requirement. This requirement requires foreign companies to establish joint ventures with local companies or incorporate domestic input into the production process. This requirement does not necessarily affect the daily operations of foreign firms in the host country.

The host government can enforce vertical integration requirements to promote local development, but the effect of such requirements is typically low because they primarily benefit local businesses, which tend to have less bargaining power than foreign companies. Foreign companies frequently establish a supply chain to support their operations, and the integration of domestic inputs in this chain is an essential component of business sustainability.

What is vertical integration?

Vertical integration refers to a company's ownership of its supply chain, from raw materials to the final product or service. A company that owns a vertically integrated supply chain controls every phase of the manufacturing process, which helps to streamline business processes and reduce costs. It entails the merger of firms at various levels of the production process or the acquisition of downstream or upstream businesses to support the core business.

Learn more about host government at https://brainly.com/question/28197632

#SPJ11

when followers have a say in the selection or election of a leader, they are likely to have low expectations and make few demands. t/f

Answers

The statement "when followers have a say in the selection or election of a leader, they are likely to have low expectations and make few demands." if false because followers have a say in the selection or election of a leader, they are likely to have higher expectations and make more demands.

The reason for this is that when people are actively involved in the process of choosing their leader, they are more likely to be invested in the outcome and have higher expectations for the person they selected.

This is because they believe their choice should reflect their values and needs, and therefore, they want the leader to deliver on those expectations.

As a result, followers are more likely to make demands and hold the leader accountable for their actions and decisions, as they feel a sense of responsibility and ownership over the leader's performance.

Involvement in the selection process creates a sense of empowerment and raises the stakes for the followers, leading to increased expectations and demands.

To know more about election click on below link:

https://brainly.com/question/11185151#

#SPJ11

Which of the following data would be analyzed to determine whether any shift in the MPI has occurred over the course of the past 5-year period?
A) interest rates
B) MPS
C) foreign income
D) exchange rates

Answers

The answer to the question is option B, MPS. It measures how much an increase in national income leads to increased imports.

MPI stands for Marginal Propensity to Import. It can also be used to assess the sensitivity of imports to changes in national income. A shift in MPI could have economic implications. If the MPI decreases, it implies that a rise in national income results in a smaller rise in imports, whereas a rise in MPI implies that a rise in national income leads to a higher rise in imports. Therefore, to determine whether a shift in MPI has occurred over the past 5-year period, we need to analyze MPS.

The MPS (Marginal Propensity to Save) is the proportion of any increase in income that is saved, rather than spent. To measure the change in MPI, we must measure the change in MPS.

Option B is correct.

Learn more about Marginal Propensity to save: https://brainly.com/question/14952977

#SPJ11

is a market leader. which one of these is the most constructive way for the brand to defend its leadership position?

Answers

The answer are by continuously improving and adapting its offerings, a market leader can maintain its position of dominance and drive long-term growth and success.

The most constructive way for a market leader to defend its leadership position is by constantly innovating and improving its products or services to meet changing customer needs and preferences. In today's fast-paced and competitive marketplace, brands must remain agile, adaptable, and customer-centric to stay ahead of the competition.

One approach to defending a leadership position is to invest heavily in research and development to create new and innovative products or services that offer superior value to customers. This can help the brand to differentiate itself from competitors and create a sustainable competitive advantage.

Another strategy is to focus on customer engagement and loyalty by providing excellent customer service, personalized experiences, and building a strong brand reputation. This can help the brand to build trust and establish an emotional connection with customers, which can lead to increased customer retention and advocacy.

Furthermore, a market leader can also leverage its scale, resources, and expertise to expand into new markets or segments, either through organic growth or acquisitions. This can help the brand to diversify its revenue streams, mitigate risks, and stay ahead of emerging trends and opportunities.

In conclusion, defending a leadership position requires a proactive and strategic approach that emphasizes innovation, customer engagement, and market expansion. By continuously improving and adapting its offerings, a market leader can maintain its position of dominance and drive long-term growth and success.

To know more about market leader refer here:

https://brainly.com/question/14104570#

#SPJ11

what is the cash component of the payoff if a call futures option on 50 units of the underlying asset is exercised?

Answers

The cash component of the payoff if a call futures option on 50 units of the underlying asset is exercised is the difference between the futures price and the strike price multiplied by the contract size of the futures contract.

The cash component of the payoff is paid to the holder of the call futures option.

Here's an example to illustrate the calculation of the cash component of the payoff: Suppose the futures price is $50, and the strike price is $45 for a call futures option on 50 units of the underlying asset.

The contract size is 100. If the holder of the call futures option decides to exercise the option when the futures price is $55, the cash component of the payoff is calculated as follows:

Cash Component = (Futures Price - Strike Price) x Contract Size

Cash Component = ($55 - $45) x 100

Cash Component = $1000

Therefore, the holder of the call futures option receives a cash payment of $1000 from the writer of the futures contract.

To learn more about strike price, refer below:

https://brainly.com/question/15682316

#SPJ11

Which statement correctly describes the difference between short-run aggregate supply (SRAS) and long-run aggregate supply (LRAS)?a. Any time period less than one year is represented with the SRAS curve, and LRAS refers to any period beyond that.b. The SRAS curve shows a tradeoff between inflation and unemployment but the LRAS curve does not.c. The SRAS curve assumes prices and wages are flexible; the LRAS curve assumes fixed prices and wages.d. The SRAS curve is upward sloping, but LRAS is downward sloping.

Answers

The SRAS curve assumes prices and wages are flexible; the LRAS curve assumes fixed prices and wages (C) is statement correct.

The SRAS curve reflects the amount of output that firms will produce in the short run with prices and wages that adjust quickly to changes in supply and demand. In contrast, the LRAS curve reflects the amount of output that firms will produce in the long run, when prices and wages are assumed to be fixed.

SRAS stands for Short-Run Aggregate Supply, which is a macroeconomic concept that represents the total supply of goods and services that businesses are willing and able to produce in the short run, given their current level of resources, technology, and other inputs.

In the short run, businesses can often increase or decrease their level of production relatively quickly in response to changes in demand or other economic conditions. As a result, the short-run aggregate supply curve is often upward sloping, indicating that as prices rise, businesses will be willing to supply more goods and services. Therefore, the correct answers is C.

Learn more about SRAS: brainly.com/question/26875448

#SPJ11

5. gene milton borrowed a sum of $5,000 from his rich uncle ben. after three years, gene paid a sum of $4,000 towards the accumulated interest and partial principal. he also paid a sum of $2,500 at the end of five years to pay off the loan. the interest rates quoted by the rich uncle were two-tiered. the interest rate for the first three years was 6% compounded yearly and a slightly higher rate for years four and five. this interest rate was nearly equal to . a. 7.83% b. 9.62% c. 14.71% d. 13.07%

Answers

The interest rate quoted by the rich uncle for years four and five was nearly equal to 9.62%. The correct option is B.

How To calculate the remaining principal

The interest rate for the first three years was 6% compounded yearly and a slightly higher rate for years four and five.

To calculate the remaining principal after the first three years, we can use the formula for the accumulated value of an investment:

P = A/(1 + r)n

Here,

P= $5,000 (the initial principal)

n= 3 (the number of years)

A = P (1 + r)n,

where

A = $5,000 (the accumulated value of the investment)

r = the interest rate for each year.

For three years with 6% compound interest rate, the accumulated value of $5,000 is as follows:

At the end of year 3, the amount Gene Milton owed to his uncle was $6,194.

To calculate the new interest rate that the rich uncle charged for the last two years, we can use the formula for compound interest:

P = A/(1 + r)n - I

Here, P = $6,194, n = 2, and I = $4,000 (the interest paid by Gene Milton).

So,

$5,500 = $6,194/(1 + r)2 - $4,000

After solving the above equation for r, we get:

r = 0.0714 or 7.14%

Learn more about interest rate at

https://brainly.com/question/14445709

#SPJ11

why is it important to periodically take a physical inventory when using a perpetual inventory system?

Answers

It is important to periodically take a physical inventory when using a perpetual inventory system because it helps to ensure that the physical stock on hand matches the inventory records.

Physical inventory is the process of counting, weighing, and measuring items in stock in a company's inventory and is used to verify the accuracy of inventory records. A perpetual inventory system is a method of inventory management that records inventory levels in real-time as purchases and sales are made

Physical inventories help to identify discrepancies between the records and the actual stock, such as shrinkage, theft, or administrative errors, and allow for corrections to be made to the inventory records. Taking a physical inventory involves counting all of the inventory items, comparing them to the inventory records, and adjusting the records to account for any discrepancies.

To know more about inventory , refer here

https://brainly.com/question/14184995#

#SPJ11

alyssa opened a reitrmeent account with 7.25 apr in the year 2000. her iniutial deposit was 13500 how much will the account be worth in 2025 if interest ocmpounds monthly

Answers

In 2025, Alyssa's retirement account with 7.25% APR initially deposited with $13,500 will be worth $41,927.56.

To calculate this, we need to use the formula for compound interest:

A = P (1 + r/n)^(nt), where A is the future value of the investment, P is the initial investment amount, r is the annual interest rate, n is the number of times the interest is compounded per year, and t is the number of years.

Plugging in the values we get: A = $13,500 (1 + 0.0725/12)^(12*25). This simplifies to $41,927.56, which is the future value of Alyssa's account in 2025.

To know more about interest rate click on below link:

https://brainly.com/question/13324776#

#SPJ11

if a marketer is to execute an effective marketing strategy using imc, which aspects should he or she consider? select all that apply: responses

Answers

A marketer should consider the following aspects when creating an effective marketing strategy using IMC (Integrated Marketing Communication), such as target market, message, channels, and also timing.

- The target market: understanding the needs, wants and preferences of the target market to create an effective message

- The message: creating an effective message to promote the brand - The channels: selecting the channels that are most appropriate for the message and target audience

- The timing: understanding when is the most effective time to communicate the message to the target audience

- The budget: setting a realistic budget for the campaign

- Evaluation: measuring the effectiveness of the campaign and making necessary adjustments.

Here you can learn more about  effective marketing strategy https://brainly.com/question/30743883

#SPJ11

to take advantage of a rights offering, a shareholder may order some or all of the rights to be sold, exercise the right, or .

Answers

A rights offering is a form of securities offering in which a company offers shareholders the right to purchase additional shares at a discounted price. To take advantage of a rights offering, a shareholder may order some or all of the rights to be sold, exercise the right, or a combination of the two.

If a shareholder orders some or all of the rights to be sold, they will receive the proceeds from the sale of the rights less the cost of their order and any brokerage commission fees. The proceeds from the sale of the rights can then be used for other investments.

If a shareholder exercises the right, they will use the right to purchase additional shares of the company's stock at the discounted price. The number of additional shares purchased depends on the number of rights exercised.

Finally, a shareholder may opt for a combination of selling some rights and exercising the remaining rights. This is typically done when a shareholder would like to receive the proceeds from the sale of the rights and use those funds to exercise additional rights.

In summary, a shareholder has three options when it comes to taking advantage of a rights offering: order some or all of the rights to be sold, exercise the right, or a combination of the two.

To learn more about shareholders here:

https://brainly.com/question/28452798#

#SPJ11

Complete Question

To take advantage of a rights offering, a shareholder may order some or all of the rights to be sold, exercise the right, or a combination of the two.
Explain?

when shoppers click on an ad and are directed to an advertiser's product detail page on amazon, which customer flow is this?

Answers

When shoppers click on an ad and are directed to an advertiser's product detail page on amazon This is an example of a direct response customer flow.

In this flow, shoppers click on an ad and are directed to an advertiser's product detail page on Amazon. This is a fast, direct, and effective way for shoppers to find what they are looking for, and for advertisers to get a response from their target audience.

The process typically involves a user clicking on an ad, which leads to a landing page containing more information about the product and services. This landing page provides an easy way for customers to make a purchase and can also include links to other relevant information or products.

Once the customer has completed the purchase, the customer flow is complete. The advertiser is then able to measure the performance of the ad campaign by tracking the total number of conversions and the total revenue generated.

To know more about customer flow click on below link:

https://brainly.com/question/28271740#

#SPJ11

reggie's records uses time-series forecasts, such as past holiday sales and the strength of store sales this year, to predict future sales based on patterns of historical data. reggie's is using

Answers

Data analytics is being used at Reggie's. Analyzing data collections to identify trends and make judgements about the data they contain is known as data analytics (DA).

What exactly does data analytics mean?

Data analytics is increasingly carried out with the use of specialist hardware and software. Over the coming ten years, the field of data analytics will continue to expand quickly. By 2030, the U.S. Department of Labour Statistics (BLS) predicts 22% growth, which is seen as significantly quicker than normal.

A data analyst examines data to find significant customer insights and potential uses for the information. They also advise the company's management and other stakeholders of this information.

To know more about Data analytics  visit:

https://brainly.com/question/30094941

#SPJ1

question 1: how should insurance markets work? options discussed in class completely private insurance markets universal public insurance compulsory insurance employer-sponsored insurance means-tested health insurance

Answers

In the following question, Insurance markets can work in several ways. There is completely private insurance, which is when insurance is provided through a private, for-profit entity and individuals must purchase the insurance themselves.

Among the various conditions given, There is also universal public insurance, which is when the government provides and subsidizes healthcare for everyone. Compulsory insurance is when everyone must purchase insurance, usually through their employer. Employer-sponsored insurance is when employers provide healthcare to their employees. Lastly, there is means-tested health insurance, which is when insurance is provided to those that meet certain criteria, such as income level.

Insurance markets can work in several ways. There is completely private insurance, which is when insurance is provided through a private, for-profit entity and individuals must purchase the insurance themselves.

For more such questions on Insurance

brainly.com/question/30291521

#SPJ11

jesse would like to start a landscaping company that concentrates on using native plants. the feasibility analysis showed a need for $100,000 to start the company (she has $10,000), competition of three other companies (one concentrated on using native plants), and buyers who were predominantly 60 years or older (who loved yard work). which of the following statements is true? a. the plan has a fatal flaw with financing but competition might not be as much of an issue if the native plant landscaping is growing with the buyers. b. the plan could be fixed if an investor went into business with her. c. this plan shows fatal flaws with financing, competition, and market because none of these flaws could be fixed. d. the plan has a fatal flaw with financing and competition because the market might have an interest in her specialty.

Answers

The statement that is true for the given scenario is: the plan has a fatal flaw with financing but competition might not be as much of an issue if the native plant landscaping is growing with the buyers.

The feasibility analysis for Jesse's landscaping company that concentrates on using native plants showed that she needs $100,000 to start the company but she has only $10,000.

It also revealed that there are three other companies in competition (one concentrated on using native plants) and that buyers are predominantly 60 years or older (who loved yard work). In such a situation, the plan has a fatal flaw with financing, but competition might not be as much of an issue if the native plant landscaping is growing with the buyers.

This is a true statement. An investor going into business with Jesse can fix the problem of financing. But it is not necessary to say that the plan shows fatal flaws with financing, competition, and the market because none of these flaws could be fixed. This statement is too extreme and unnecessary. Therefore, option A is the correct answer.

To know more about Financing, refer here:

https://brainly.com/question/9895343#

#SPJ11

a small retail shop in the local community offers a wide variety of women's clothing at low prices. in order to be competitive with larger chains found at the mall, the store owner frequently works alone, and she has adjusted store hours to capitalize on busy days. what should this retail shop owner be pursuing as part of her general business-level strategy?

Answers

The retail shop owner should be pursuing a cost leadership strategy as part of her general business-level strategy.

Cost leadership strategies focus on achieving lower costs than competitors in order to be competitive in the market and to offer customers lower prices. The retail shop owner can pursue this strategy by minimizing the cost of labor and overhead, such as by working alone and adjusting store hours to capitalize on busy days. Additionally, the retail shop owner should focus on efficient production and distribution processes to minimize costs.

The shop owner can also differentiate her product offering from that of her larger competitors by offering unique or exclusive items, or through improved customer service. This will create a competitive advantage for her business and can help her attract and retain customers.

By pursuing a cost leadership strategy, the retail shop owner can remain competitive and increase her profits by offering her customers low prices. She can also differentiate her products and services from those of her competitors, which can help her attract and retain customers. Ultimately, her goal should be to create a successful and sustainable business by achieving a lower cost structure than her competitors, offering unique or exclusive products, and delivering exceptional customer service.

For more such questions on Cost leadership strategy.

https://brainly.com/question/30135885#

#SPJ11

in order for a citizen of kona to maintain the same standard of living between 2010 and 2015 , what percentage change in nominal income would be needed? explain.

Answers

To maintain the same standard of living, a person's nominal income would need to increase by the same percentage, or 8.23%.

In order for a citizen of Kona to maintain the same standard of living between 2010 and 2015, a percentage change of 8.23% in nominal income would be needed.

The explanation is as follows:

Nominal income is the actual income a person earns, without taking into account the effects of inflation. Inflation is the rate at which prices increase over time. Therefore, the purchasing power of a person's income is affected by inflation. If prices increase faster than nominal income, a person's standard of living decreases.

To calculate the percentage change in nominal income needed to maintain the same standard of living, we need to use the inflation rate between 2010 and 2015. According to the Bureau of Labor Statistics, the inflation rate in the United States between those years was 8.23%. This means that the prices of goods and services increased by 8.23% during that time.

To maintain the same standard of living, a person's nominal income would need to increase by the same percentage, or 8.23%. This would account for the increase in prices and allow the person to purchase the same amount of goods and services as they could in 2010.

To learn more about nominal income, refer below:

https://brainly.com/question/17094716

#SPJ11

on may 1, 2024, dooley borrowed $250,000 from prime bank by signing a three-year, 6% note payable. interest is due each may 1. what adjusting entry, if any, should prime bank record on december 31, 2024?

Answers

The entry is Debit interest receivable and credit interest revenue by $ 10,000. As a result, choice B is the right response.

How to calculate prime bank record?

Prime Bank was founded in 1995 and is a premier local business bank in Bangladesh. A big and well-known bank is referred to as a prime bank in

the finance industry. Prime banks are well-known for being enormous, and they frequently conduct significant financial transactions.

From May 1 to December 31, there are 8 months and so that much interest revenue is to be recorded.

Interest for one year = 250,000 x 6%

Interest for one year = $ 15,000

Interest for 8 months = (15,000/12) x 8

Interest for 8 months = $ 10,000

The entry is Debit interest receivable and credit interest revenue by $ 10,000.

To know more about Debit, visit:

https://brainly.com/question/27992603

#SPJ1

The entry is Debit interest receivable and credit interest revenue by $ 10,000. As a result, choice B is the right response.

How to calculate prime bank record?

Prime Bank was founded in 1995 and is a premier local business bank in Bangladesh. A big and well-known bank is referred to as a prime bank in the finance industry. Prime banks are well-known for being enormous, and they frequently conduct significant financial transactions.

From May 1 to December 31, there are 8 months and so that much interest revenue is to be recorded.

Interest for one year = 250,000 x 6%

Interest for one year = $ 15,000

Interest for 8 months = (15,000/12) x 8

Interest for 8 months = $ 10,000

The entry is Debit interest receivable and credit interest revenue by $ 10,000.

To know more about Debit, visit:

brainly.com/question/27992603

#SPJ1

Complete question is,

Multiple Choice

a). Debit Interest Receivable and credit Interest Revenue for $5,000.

b). Debit Interest Receivable and credit Interest Revenue for $10,000.

c). Debit Interest Receivable and credit Interest Revenue for $15,000.

d). No adjusting entry is necessary.

A student is graduating from college in 18 months but will need a loan in the amount of $6,720 for the last three semesters. The student may receive either an unsubsidized Stafford Loan or a PLUS Loan. The terms of each loan are:

Unsubsidized Stafford Loan: annual interest rate of 3.99%, compounded monthly, and a grace period of six months from time of graduation.

PLUS loan: annual interest rate of 4.99%, compounded monthly, with a balance of $7,241.17 at graduation

Which loan will have a higher balance and by how much at the time of repayment?

The Stafford loan will have a higher balance by $107.41 at the time of repayment.
The PLUS loan will have a higher balance by $107.41 at the time of repayment.
The Stafford loan will have a higher balance by $36.53 at the time of repayment.
The PLUS loan will have a higher balance by $36.53 at the time of repayment.

Answers

Answer: To determine which loan will have a higher balance at the time of repayment, we need to calculate the total amount owed for each loan.

For the Unsubsidized Stafford Loan, the total amount owed can be calculated as follows:

Loan amount = $6,720

Annual interest rate = 3.99%

Monthly interest rate = 3.99% / 12 = 0.3325%

Number of months until repayment = 18 + 6 = 24

Total interest = $6,720 x 0.003325 x 24 = $531.84

Total amount owed = $6,720 + $531.84 = $7,251.84

For the PLUS Loan, the total amount owed can be calculated as follows:

Loan amount = $7,241.17

Annual interest rate = 4.99%

Monthly interest rate = 4.99% / 12 = 0.4158%

Number of months until repayment = 18

Total interest = $7,241.17 x 0.004158 x 18 = $553.76

Total amount owed = $7,241.17 + $553.76 = $7,794.93

Therefore, the PLUS loan will have a higher balance at the time of repayment by $543.09 ($7,794.93 - $7,251.84). The correct answer is that the PLUS loan will have a higher balance by $543.09 at the time of repayment.

Explanation:

The PLUS loan will have a higher balance at the time of repayment by $543.94 ($8,189.02 - $7,645.08), so the correct answer is (B) The PLUS loan will have a higher balance by $107.41 at the time of repayment.

What is loan?

A loan is a financial agreement in which one party borrows money from another party with the agreement to pay it back over time, usually with interest. Loans are often used to finance large purchases or investments that would be difficult to pay for all at once.

To determine which loan will have a higher balance at the time of repayment, we need to calculate the future value of each loan. Since the repayment period for both loans is the same, we can compare them directly.

For the unsubsidized Stafford Loan, the present value is $6,720, the annual interest rate is 3.99%, compounded monthly, and the time period is 24 months (18 months until graduation plus 6 months grace period).

Using the future value formula, FV = PV x (1 + r/n)^(nt), where r is the annual interest rate, n is the number of times interest is compounded per year, and t is the time period in years, we get:

FV = $6,720 x (1 + 0.0399/12)^(12*2) = $7,645.08

For the PLUS Loan, the present value is $7,241.17, the annual interest rate is 4.99%, compounded monthly, and the time period is 24 months. Using the same formula, we get:

FV = $7,241.17 x (1 + 0.0499/12)^(12*2) = $8,189.02

Therefore, the PLUS loan will have a higher balance at the time of repayment by $543.94 ($8,189.02 - $7,645.08), so the correct answer is (B) The PLUS loan will have a higher balance by $107.41 at the time of repayment.

Learn more about loan here:

https://brainly.com/question/30104409

#SPJ2

a seller takes back a $150,000 mortgage at 6% interest. payments are interest-only for 10 years. what balloon payment amount will be due?

Answers

A seller takes back a $150,000 mortgage at 6% interest rate. payments are interest-only for 10 years. The balloon payment that will be due is equal to $150,000.

It is necessary to calculate the amount of the balloon payment that will be due. Let us begin by understanding the mortgage concept in simple terms.

A mortgage is a loan that is taken out to purchase property. A mortgage is repaid over a specified period, usually 25 years or more, in monthly installments, known as mortgage payments, and includes both principal and interest payments.


The interest rate, loan amount, and the number of years that the mortgage will be repaid for are all taken into consideration when calculating the monthly payments.

The principal portion of the mortgage is the amount borrowed to purchase the property. The interest is the cost of borrowing the money. To calculate the amount of the balloon payment, we must first understand what it means.

A balloon payment is a lump sum of money that is due at the end of the loan period. This type of payment is typically required when a borrower takes out a mortgage or other loan with a short-term duration, such as five to ten years.

The borrower makes monthly payments of interest only, and at the end of the loan term, the balloon payment is due.

Given that the mortgage is $150,000 with an interest rate of 6%, interest-only payments for ten years, we can use the following formula to calculate the balloon payment.

Balloon payment = Remaining principal balance after ten years at the end of the loan period The total amount of interest paid over ten years can be calculated as follows:

Total interest paid = Principal x Interest rate x Time

Total interest paid = $150,000 x 0.06 x 10

Total interest paid = $90,000

At the end of ten years, the remaining principal balance will be equal to the original mortgage amount of $150,000. Therefore, the balloon payment that will be due is equal to $150,000.

To know more about interest rate refer here :

https://brainly.com/question/29417064

#SPJ11

in the world of grain, production is typically measured in bushels. bushel is a measure of

Answers

A bushel is a unit of measurement for grain production. It is equal to eight gallons or 32 dry quarts, or about 35 liters.

A bushel of wheat typically weighs 60 pounds (27 kg). It is used to measure the amount of grain produced from a particular crop.

It is important to measure the production of grain in bushels, as it helps determine the prices of different grain crops, as well as the total amount of grain produced each year.

Furthermore, bushels are used to measure the grain yield of various crop varieties, which can help farmers decide which varieties of grain to plant in order to maximize their yield.

To know more about grain crops click on below link:

https://brainly.com/question/2159118#

#SPJ11

just through their normal ways of doing business, multinational corporations sustain stratification. group of answer choices true false

Answers

The interlocking factors of education, race, gender, and economic status, among others, form society's organizational structure. true

What constitutes a social stratification example?

The world's earliest forms of permanent social stratification have been described as slavery, caste systems, apartheid, and other historical examples—some of which still exist in some form today.

What is the social stratification process?

Sociologists use the term "social stratification" to describe the structure of social rank. Social stratification is the division of a society's population into socioeconomic groups according to factors including wealth, income, race, education, and power.

To know more about multinational corporations visit:-

https://brainly.com/question/23894905

#SPJ1

which of the following is not one of the steps in the strategic management process? a. strategy implementation b. goal formulation c. environmental analysis d. problem identification

Answers

In the following question,  The answer "which of the following is not one of the steps in the strategic management process?" is "d. problem identification."

Strategic management refers to the process of planning, organizing, implementing, and assessing an organization's activities and resources to achieve its goals and objectives. Strategic management is a cyclical process that involves six phases or steps.

They are as follows:

Goal formulation: The first stage in the strategic management process is goal formulation. It involves the development of an organization's vision, mission, goals, and objectives. The goals and objectives should be specific, measurable, achievable, relevant, and time-bound.Environmental analysis: The second stage in the strategic management process is environmental analysis. It involves the allocation of resources to implement the chosen strategies. This step also involves the development of a detailed plan for implementing the strategies selected.Strategy evaluation: The fifth stage in the strategic management process is strategy evaluation. This step involves the continuous monitoring and evaluation of the progress made in implementing the strategies selected. This step helps managers to identify problems and make necessary adjustments to ensure the organization is on track.Problem identification: This is not one of the steps in the strategic management process. The strategic management process doesn't have the step problem identification. It is a separate step in the decision-making process.

Problem identification involves recognizing that there is a problem that needs to be solved. This step helps managers to identify the root cause of the problem and determine the best solution to address it.

For more such questions on management

https://brainly.com/question/1276995

#SPJ11

property values tend to go down in high-crime neighborhoods. this reflects which of these costs of crime?

Answers

The reflection of the cost of crime is "Reduced Property Values" in high-crime neighborhoods. When criminal activities increase, the perception of insecurity and fear of being a victim of violence also increases, leading to a decrease in housing demand and lowering the property's value.

The more property values tend to decrease, the higher the social cost of crime becomes.

What are social costs?

Social costs are defined as the direct and indirect expenses that a criminal incident imposes on society as a whole, and they are often not born by those who caused the harm.

Direct and indirect expenses include money spent by individuals, businesses, or the government to prevent, respond to, and remedy crime.

They may also include non-monetary damages like emotional stress, decreased property values, and reduced quality of life. Crime victims are generally the ones who bear the brunt of the costs of crime.

Types of Social Costs of Crime:

Property damage and lossReduced Property ValuesLowered Quality of LifePain and SufferingPsychological DistressCosts of Injury and TreatmentCosts of Prevention and SecurityCosts of Criminal Justice System and IncarcerationCosts of Lost Productivity and Workforce DropoutCosts of Family and Community Dysfunction and Breakdown, among others.

to know more about social cost refer here:

https://brainly.com/question/13498414#

#SPJ11

which of the following dictates overall business objectives? group of answer choices the broad environment in which the business operates public relations strategies public relations programs marketing and advertising strategies

Answers

The broad environment in which the business operates dictates overall business objectives. This includes factors such as the external economic environment, technological environment, legal and political environment, and social and cultural environment. These environmental factors can help shape the overall business objectives of the organization.

The broad environment in which the business operates dictates overall business objectives. The external environment, which includes factors such as economic conditions, political and legal factors, technological changes, social and cultural factors, and competition, has a significant impact on a business's overall objectives. A business must analyze and understand the external environment to determine the best course of action and establish goals that align with the opportunities and challenges presented by the environment. Public relations strategies and programs, as well as marketing and advertising strategies, may be important components of a business's overall strategy, but they are not the factors that dictate the overall business objectives

Learn more about Business plan: brainly.com/question/25534066

#SPJ11

pt. 2
Directions: answer true or false for the following
11. Competition is a major reason that businesses offer credit because being able to buy now and pay later is often the deciding factor in the choice of a company with which to do business. ________

12. A good credit rating has become so necessary that some people open credit accounts even when they have cash on hand. ________

13. One important disadvantage of obtaining credit is the inability to save money. ________

14. All businesses must comply with credit legislation at both the state and federal levels. ________

15. The Uniform Commercial Credit Code (UCCC) was drawn up to give states a model to follow in writing their own sets of credit laws. ________

16. Retail Installment Sales Acts (RISAs) govern only installment sales of personal property. ________

17. The Truth-in-Lending Act (TILA) is also called the Consumer Credit Cancellation Act (CCCA) and gives customers the right to cancel a transaction after five working days. ________

18. Under the Equal Credit Opportunity Act (ECOA), credit applicants must be notified within 30 days of their acceptance or rejection. ________

19. The Fair Credit Reporting Act (FCRA) requires businesses that extend credit to respond within 30 days to any customer complaint or inquiry concerning a billing error. ________

20. The Fair Credit Billing Act (FCBA) allows a business 90 days to explain or correct a billing error. ________

Answers

Answer:

See below, please.

Explanation:

11.True

12.True

13.True

14.True

15.True

16.False

17.False

18.True

19.False

20.False

Other Questions
the market development index is equal to the . question 4 options: product of current market demand and market potential. ratio of market potential and market growth. calculate the rate of photosynthesis (mm/hr) for elodea if when measuring net photosynthesis, the water level moved up 4mm from the initial level in 10 min, and when measuring cellular respiration it took 20 minutes for the water level to move down 1 mm. your grandma promises you a gift of $100 for your birthday. later, she decides she doesn't want to give you the money. is this a breach of a contract? sexual orientation is based on which of the following factors? group of answer choices psychological, familial, and environmental biological, social, and religious emotional, social, and socio-environmental biological, psychological, and socio-environmental Evelyn buys bracelets thats cost $6 each and three purses that cost $12 each. The cost of evelyns total purchase is $60. Write and equation thar can be used to find n, the number of bracelets that evelyn buys the project manager communicates the objective to the project team in such a manner as to create a vision of? Help me please im timed! Help me I give you 15 points!!! what is one low-tech method currently available to actively remove co2 from the air? explain why the total return from holding a bond to maturity will be between the yield to maturity and the reinvestment rate. In the formula v = f X, what measurement is used for the frequency of the wavelength? I need help with a problem on my test. Write an exponential function to model the situation. Tell what each variable represents. A price of $115 increases 9% each month.Please help a company reports total assets of $950,000 and stockholders' equity of $550,000. calculate the debt ratio. group of answer choices 36.67% 72.73% 42.11% 57.89% I NEED HELP PLEASE ANSWER ASAP at the turn of the century, the french academy was divided rather sharply between two doctrines. which doctrine taught that color was the most important element? which of the following type of security controls involves installing bollards? directive preventive corrective detective deterrent the nurse caring for a newborn checks the record to note clinical findings that occurred last shift. which finding related to the renal system would be of increased significance and require further action? it all started when i accidentally picked up the wrong backpack what is the theory of liquidity preference? how does it help explain the downward slope of the aggregate demand curve the conceptual and procedural details of a financial statement audit build on the fundamental concepts of