This company's accounting records are incorrect because debits do not equal credits.
An account is a particular document within an organization's financial ledger or stability sheet. Accountants, finance specialists, and bookkeepers can use debts to document vital monetary statistics, like reporting daily transactions to affirm the exact amount of money an enterprise has at any moment.
In accounting, an account is a document inside the well-known ledger this is used to type and keep transactions. for example, companies may have an account of a coin wherein to file each transaction that will increase or decreases the company's coins. fundamental accounting principles used inside the commercial enterprise global cowl sales, charges, assets, and liabilities. those elements are tracked and recorded in files which include stability sheets, earnings statements, and cash float statements.
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According to the video, some workers who work for themselves, such as Actors, Musicians, or Writers, may have what
sort of worker represent them to potential customers?
O an Agent
O a Headhunter
an Employer
a Mentor
Answer:
an Agent
Explanation:
just answered it and got correct
Answer: Agent
Explanation: just got it right on edge
3. Based on sales, what products do customers want? How accurately did the
owner predict what products would appeal to customers?
Answer: Market survey
Explanation:
One of the ways to determine what customers want is my doing s survey. A survey would guide you through what they want. One of the ways to do this survey to get accurate answers is through questionnaire's, questionnaire's could be sent through mobile or advert or mails, asking what exactly what the customers want, from the feedback, the owner can predict accurately.
why it is important to prepare a bank reconciliation statement at the end of each month
Explanation:
The purpose of preparing a Bank Reconciliation Statement is to detect any discrepancies between the accounting records of the entity and the bank besides those due to normal timing differences. Such discrepancies might exist due to an error on the part of the company or the bank.
robert worked as a campus police officer at cal poly pomona. as part of his union contract, robert was required to submit to a drug test four times per year. he tested positive for crystal meth (an illegal drug) during one of his regularly-scheduled drug tests. according to the same union contract, a positive test for an illegal drug could result in automatic termination, so robert was fired from his job. robert sued cal poly pomona for wrongful employment termination. what should be the result? a. robert should win since drug tests can never be required of any employee b. robert should win since passing a drug test has nothing to do with being a campus police officer at cal poly pomona. c. robert should lose since the union contract allowed his termination under the circumstances. d. robert should win since random drug tests are an invasion of california's privacy rights under the california constitution and, therefore, are prohibited.
The correct option is C. Robert should lose since the union contract allowed his termination under the circumstances.
Employment is a courting between two events regulating the supply of paid labor offerings. commonly primarily based on a settlement, one birthday celebration, the employer, which might be an enterprise, a new not-for-profit agency, a co-operative, or some other entity, pays the opposite, the worker, in going back for carrying out assigned work. employees work in return for wages, which can be paid on the basis of an hourly price, via piecework or an annual income, depending on the type of paintings a worker does, the triumphing situations of the world, and the bargaining electricity among the parties.
Employees in a few sectors may receive gratuities, bonus payments, or inventory options. In some types of employment, employees may additionally acquire benefits further to charge. advantages may include medical insurance, housing, and incapacity insurance. Employment is generally ruled by using employment legal guidelines, agency, or felony contracts.
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which of the following statements is true of the two-way linkage level between the human resource management function and the strategic management function?
The two-way linkage level between the human resource management function and the strategic management function is the level at which the two functions work together to achieve the goals of the organization.
Human resource management is responsible for developing strategies to recruit, manage, and retain employees, while strategic management is responsible for developing strategies to achieve organizational goals. The two-way linkage level ensures that the two functions are working together to ensure the successful completion of the organization's goals.
This level of linkage is important because it helps the organization to identify and develop the human resources needed to make the organization successful. It also helps to ensure that the human resources are utilized in a way that is beneficial to the organization. The two-way linkage level also ensures that the organization is able to utilize its human resources in a way that is beneficial to the organization, as well as to its employees. This two-way linkage helps to ensure that the organization is able to achieve its goals in a timely and effective manner.
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which of the following is not recommended within the final sentence of a bad-news message? a. Tactful restatement of the refusal b. Sales promotional material c. Some future aspect of the business relationship d. An expression of willingness to assist in some other way
Among the options provided, the one that is not recommended within the final sentence of a bad-news message is b. Sales promotional material. It is important to keep in mind that a bad-news message should focus on delivering the refusal in a clear, concise, and respectful manner, rather than trying to promote the business or its products/services.
On the other hand, options a, c, and d can be appropriate to include in the final sentence of a bad-news message, depending on the context and the relationship with the recipient. A tactful restatement of the refusal can help to emphasize that the decision was not taken lightly and that the recipient's request was considered carefully. Some future aspect of the business relationship can be mentioned to maintain a positive tone and suggest that there may be other opportunities for collaboration or cooperation in the future.
The option that is not recommended within the final sentence of a bad-news message is b. Sales promotional material. It's important to focus on the issue at hand, maintain professionalism, and avoid promoting sales in such a context.
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free brainiest +
your welcome by the way only if two people answer +
Answer:
thanks
Explanation:
have a good day
Which sentences identity the investing activities of a cash slow statement?
Tyler Enterprises has achieved remarkable growth in the past five years. Qualified accountants have prepared and analyzed the cash flow statement to
offer financial advice to help safeguard the future of the business. It includes details of the amount of cash flowing into and out of the business. The
statement begins with the amount of revenue that the sales team has brought in. It also involves the corresponding marketing campaign costs incurred
in the promotional exhibition. The profit was declared to the shareholders in the form of dividends. The production team undertook projects that involved
installation of automatic botting machines. New dishwashers were installed in the cafeteria as part of an efficiency improvement project. The stakes of
an old division of packing material were sold off in order to concentrate solely on present business. Old investors were issued stocks when their
convertible bonds attained maturity. Some of the old machineries in the production line were sold off as scrap while rest was revamped
The sentences that identify the investing activities of a cash slow statement are - The production team undertook projects that involved installation of automatic botting machines. New dishwashers were installed in the cafeteria as part of an efficiency improvement project. The stakes of an old division of packing material were sold off in order to concentrate solely on present business. Some of the old machineries in the production line were sold off as scrap.
What are investing activities?Investing activities include the acquisition of physical assets, the purchase of securities, and the sale of securities or assets. Cash flow from investing activities includes long-term cash uses.
Negative cash flow from investing activities may not be a bad sign if management is investing in the company's long-term health.
Therefore, the sentences mentioned above identity the investing activities of a cash slow statement.
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Answer:
"The production team undertook projects that involved installation of automatic bottling machines. New dishwashers were installed in the cafeteria as part of an efficiency improvement project" and "Some of the old machines in the production were4 sold off as scrap while rest was revamped."
Explanation:
I got it right on plato
I need help asapppppp!
Would your returns be higher if you invested with
(i) an interest rate of 5% compounded yearly or
(ii) a nominal interest rate of 4.9% compounded daily?
Your returns would be higher if you invested with an interest rate of 5% compounded yearly rather than a nominal interest rate of 4.9% compounded daily.
When comparing different interest rates, it is important to consider the compounding frequency. In this case, the interest rate of 5% compounded yearly means that the interest is added to the principal once per year. On the other hand, the nominal interest rate of 4.9% compounded daily means that interest is calculated and added to the principal every day.
Even though the nominal interest rate of 4.9% is slightly lower than the interest rate of 5%, the daily compounding can result in higher overall returns. Daily compounding allows the interest to compound more frequently, leading to a higher effective interest rate over time. However, in this case, the difference in the interest rates is small, and the annual compounding at 5% would still result in higher returns compared to the daily compounding at 4.9%. Therefore, investing with an interest rate of 5% compounded yearly would yield higher returns.
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Market Street Grocery carries a complete line of products that appeal to Hispanic customers. Market Street buys cleaning products such as Fabuloso, food products such as tortillas and tacos, and birthcards written in Spanish from its suppliers. This is an example of segmentation based on _______.
Due to the fact that the segmentation is based on products that appeal to Hispanics, this is a segmentation based on Psychographic factors.
What is psychographic segmentation?
This is the type of segmentation that is made due to the lifestyle of a group of people. This is one where the customers are broken into segments.
These segments are affected by the values, the beliefs and the social status of these people.
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according to the income approach to measuring gdp, the largest income category is
The income approach to measuring GDP involves adding up all the income generated by businesses and individuals within a country during a given period.
The largest income category is employee compensation, which includes wages, salaries, and benefits paid to workers across all industries and sectors.
Employee compensation typically accounts for more than half of GDP in most countries.
Employees' compensation is usually the largest income group when using the income approach to calculating GDP.
The Bureau of Economic Analysis (BEA) calculates it by adding up the sum of wages, salaries, and benefits paid to employees.
Employee compensation accounts for over half of GDP in most countries;
in the United States, it accounts for around 55% of GDP.
following categories make up the remainder of the income approach to GDP calculation:
proprietors' income, rental income, net interest, and corporate profits.
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according to the environment-industry-organization fit model, cell 2 represents which of these environments?
A. Simple stable environment
B. Complex-stable environment
C. Simple unstable environment
D. Complex-unstable environment
E. None of theses
According to the environment-industry-organization fit model, cell 2 represents which of these environments Simple stable environment.
What is a simple stable environment?A simple stable environment is defined as a situation or setting that is relatively predictable, stable, and stable over time. There are few surprises or unexpected events in such an environment, and the rules and expectations are clear and consistent. This environment is frequently defined by routine and a lack of novelty or variety. Simple stable environments can be found in a variety of settings, including some types of jobs and small, close-knit communities. While such settings can provide a sense of security and familiarity, they can also limit opportunities for growth, learning, and innovation and can become monotonous over time.
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private equity funds may exit their investment in a business by a. investing in shares of the business when the business engages in an ipo. b. repurchasing shares of their own stock in the secondary market. c. engaging in a credit default swap with the business. d. selling their stake to another company.
Private equity funds may exit their investments through methods such as participating in an IPO or selling their stake to another company.
They may exit their investment in a business through various methods, including:
a. Investing in shares of the business when the business engages in an IPO (Initial Public Offering). This allows the private equity fund to convert their ownership stake into publicly traded shares, which can then be sold in the open market for a profit.
b. Repurchasing shares of their own stock in the secondary market is not a common exit strategy for private equity funds, as this typically pertains to the company itself buying back its own shares.
c. Engaging in a credit default swap with the business is not an exit strategy for private equity funds. A credit default swap is a financial instrument used to transfer credit risk between parties and is not related to exiting an investment.
d. Selling their stake to another company or investment firm is another common exit strategy for private equity funds. This is known as a trade sale or secondary sale, in which the fund sells its ownership stake to another investor or strategic buyer, allowing it to realize a return on its investment.
In summary, private equity funds may exit their investments through methods such as participating in an IPO or selling their stake to another company. Other options mentioned, like repurchasing shares in the secondary market or engaging in a credit default swap, are not typical exit strategies for these funds.
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1. Super Charged Corp.’s free cash flows are forecast to be $125 million in one year, $229 million in two years, and $391 million in three years. Its free cash flows are expected to increase by 6% every year after three years. Super Charged Corp.’s weighted average cost of capital is 9%. What is the enterprise value of Super Charged Corp.?
Round you answer to the nearest one-hundredth of a million dollars. Do not include the percent sign.
2. Super Charged Corp.’s free cash flows are forecast to be $125 million in one year, $229 million in two years, and $391 million in three years. Its free cash flows are expected to increase by 6% every year after three years. Super Charged Corp.’s weighted average cost of capital is 9%. What is the enterprise value of Super Charged Corp.?
An analyst’s calculation of Bear Corporation’s enterprise value is $3.8 billion. Bear has $449 million in cash, $711 million in debt, and 29 million shares outstanding. What is this analyst’s valuation of one share of Bear Corp.’s stock?
3.
Year 1 2 3 4 5
Free Cash Flow $21 million $25 million $28 million $31 million $34 million
XYZ Industries is expected to generate the above free cash flows over the next five years, after which free cash flows are expected to grow at a rate of 5% per year. If the weighted average cost of capital is 9% and XYZ has cash of $10 million, debt of $38 million, and 69 million shares outstanding, what is General Industries' expected current share price?
To determine the enterprise value (EV) of Super Charged Corp., we will use the discounted cash flow (DCF) method. We will discount the future free cash flows by the weighted average cost of capital (WACC) to determine their present values.
The present values will be added up to determine the enterprise value. After that, we will round up the answer to the nearest one-hundredth of a million dollars.Using the DCF method, we have:Year 1 free cash flow = $125 millionYear 2 free cash flow = $229 millionYear 3 free cash flow = $391 millionYear 4 free cash flow = $391 × 1.06 = $414.46 millionYear 5 free cash flow = $414.46 × 1.06 = $439.15 millionNow, we can calculate the present values of the free cash flows:PV of Year 1 FCF = $125 million / (1 + 0.09) = $114.68 millionPV of Year 2 FCF = $229 million / (1 + 0.09)² = $192.73 millionPV of Year 3 FCF = $391 million / (1 + 0.09)³ = $302.16 millionPV of Year 4 FCF = $414.46 million / (1 + 0.09)⁴ = $278.74 millionPV of Year 5 FCF = $439.15 million / (1 + 0.09)⁵ = $253.61 millionFinally, we can calculate the enterprise value as follows:EV = PV of FCFs + Terminal value = ($114.68 million + $192.73 million + $302.16 million + $278.74 million + $253.61 million) + (($439.15 million × 1.05) / (0.09 - 0.05))= $1,141.91 million + $12,086.84 million= $13,228.75 millionTherefore, the enterprise value of Super Charged Corp. is $13,228.75 million.
The enterprise value (EV) of a company represents the total value of a company's equity and debt. EV can be calculated using the discounted cash flow (DCF) method. The DCF method values a company based on the present value of future cash flows and the terminal value, which represents the present value of cash flows beyond the forecast period.In the first part of this problem, we calculated the enterprise value of Super Charged Corp. using the DCF method. We forecasted the free cash flows for five years and assumed a 6% growth rate after year three. We then calculated the present values of these cash flows using the company's weighted average cost of capital (WACC), which was given to us as 9%. Finally, we added up the present values of the cash flows and the terminal value to arrive at the enterprise value of $13,228.75 million.In the second part of this problem, we calculated the valuation of one share of Bear Corp.'s stock. To do this, we used the analyst's valuation of Bear Corporation's enterprise value, which was given as $3.8 billion. We then subtracted the company's cash and added the company's debt to arrive at an equity value of $3.06 billion. Finally, we divided the equity value by the number of shares outstanding, which was given to us as 29 million shares, to arrive at a valuation of $105.52 per share.In the third part of this problem, we were given the free cash flows of XYZ Industries and asked to calculate the company's expected current share price. We used the DCF method to calculate the present values of the free cash flows and terminal value, and then added up the present values to arrive at the company's enterprise value. We then subtracted the company's debt and added its cash to arrive at an equity value, which we divided by the number of shares outstanding to arrive at the expected share price.
In conclusion, enterprise value is an important financial metric that represents the total value of a company's equity and debt. It can be calculated using the discounted cash flow method. The DCF method values a company based on the present value of future cash flows and the terminal value. By calculating the enterprise value, analysts can compare the value of companies in different industries or with different capital structures. To calculate the valuation of a company's stock, analysts can use the enterprise value and subtract the company's debt and add its cash to arrive at an equity value. This equity value can then be divided by the number of shares outstanding to arrive at a valuation of one share of the company's stock.
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An oligopoly knows that its _____ affect(s) its _____ and that the _____ of its rivals will affect it. Select one:
a. actions; rivals; reactions
b. price changes ; total revenue in a positive way; reactions
c. actions rarely; rivals; actions
d. price increases; total revenue in the long run only; large but not small price changes
Option a. actions, rivals, reactions is the correct answer. An oligopoly knows that its actions affect its rivals and that the reactions of its rivals will affect it.
The word 'Oligopoly' is coined by two Greek words: 'Oligoi, which means 'a a few' and 'pollein' which means 'selling.' It happens when a market consists of some companies producing the same or differentiated product.
Oligopoly- There are few sellers under this, and they enjoy a huge market share. Due to less competition and the oligopoly of a large firm, partnerships and collusion are possible. Firms under the oligopoly have a high degree of mutual interconnectedness because each firm takes into account the reaction curves of rival firms and determines their price and quantity.
An oligopoly understands that its actions have an impact on its rivals and that the reactions of its rivals will have an impact on it.
Hence, option a is the correct answer.
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what is a dollar vote
Answer:
Dollar voting is an analogy that refers to the theoretical impact of consumer choice on producers' actions by means of the flow of consumer payments to producers for their goods and services.
a real estate licensee who neglects to disclose material facts that were not known but could easily have been discovered by an exercise of due diligence could, at a minimum, be liable for
A real estate licensee who neglects to disclose material facts that were not known but could easily have been discovered by an exercise of due diligence could, at a minimum, be liable for gross negligence.
Gross negligence is a type of negligence that is more serious than ordinary negligence. It is defined as the failure to exercise the degree of care that a reasonably prudent person would exercise in the same situation.
In the context of real estate, gross negligence could involve failing to disclose a material fact that a reasonably prudent person would have discovered through a reasonable inspection of the property.
The consequences of gross negligence can be serious. A real estate licensee who is found to be guilty of gross negligence could be sued by the buyer of the property for damages.
The damages could include the cost of the buyer's purchase, the cost of repairs, and the cost of moving. The real estate licensee could also be fined or even lose their license.
It is important for real estate licensees to be aware of their obligations to disclose material facts to buyers. If a real estate licensee fails to disclose a material fact, they could be held liable for their negligence.
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Baxter is looking over his monthly budget. Specifically, he's considering the direct deposits that came through this week from his job with a biotech company and from the tenant who rents a small condo that he owns. What kind of money is Baxter reviewing?
A. income
B. inflation
C. personal risk
D. opportunity cost
Answer:
A, "Income"
Explanation:
Gradpoint
the are the prototype of the modern multinational firm that goes overseas to produce and sell in foreign markets. a. cost minimizers b. market seekers c. raw-material seekers
The b) market seekers are the prototype of the modern multinational firm that goes overseas to produce and sell in foreign markets.
What is market seekers?The hidden job market refers to job openings that are not publicly advertised or listed on job boards but rather filled through networking, referrals, and other informal channels. Accessing the hidden job market can be a useful strategy for job seekers, as these types of job openings may not be as competitive and may offer more opportunities for advancement.
Building a strong network of contacts in the industry can be an effective way to learn about job openings that are not publicly advertised. Attending industry events, joining professional organizations, and reaching out to people to learn about potential job opportunities are helpful. Asking friends, family, and other contacts if they know of any job openings can be a good way to access the hidden job market. If one has a strong relationship with a company employee they may be able to refer for a job opening that has not been publicly advertised.
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in what type of economy do people/companies, make the most of the decisions involving the three basic economic questions
In a market economy, individuals and businesses tend to decide on the three fundamental economic issues the most.
In a market economy, people and companies make the most decisions involving the three basic economic questions: what to produce, how to produce it, and for whom to produce it. In this type of economy, prices and the forces of supply and demand guide decision-making, allowing individuals and companies to make choices based on their own self-interest. The government's role in a market economy is limited, as individuals and companies are largely responsible for determining what goods and services are produced and how they are distributed. This allows for greater efficiency and innovation, as companies are incentivized to produce goods and services that are in high demand and to do so in the most cost-effective manner possible.
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real gdp is calculated by: group of answer choices counting the number of items produced in an economy. adding total income to total expenditure. adding all the spending in the economy. subtracting national spending from national income.
Real GDP is calculated by adding total income to total expenditure.
This is known as the expenditure approach, which adds up all the spending in an economy on goods and services produced during a given period.
However, it is important to note that this calculation takes into account the inflation rate and adjusts for changes in prices over time.
In other words, the final figure for real GDP reflects the value of goods and services produced in an economy, adjusted for changes in the general price level.
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5. A survey conducted by Samsung in the year 2000 found that, in the United Kingdom, adults spent an average of 119 minutes per day on their smartphones. A student from Clemson believed that American college students spend more than 119 minutes per day on their smartphones. The student conducted a nationwide study using a random sample of 101 college students to test their claim at the 1% significance level. The sample average was 126.79 minutes with a standard deviation of 24.53 minutes. Assume that all the conditions for performing a hypothesis test have been met. Perform a hypothesis test using a 0.05 level of significance. (A)What are the hypotheses of this study? (B)What is the test statistic? (C)Suppose we use another random sample with sample size n=40 to conduct a hypotheses test. Please use Rejection Region method to perform the test at 0.05 significant level to determine if we would reject H 0
.
a. Null hypothesis (H₀): American college students spend, on average, 119 minutes per day on their smartphones.
Alternative hypothesis (H₁): American college students spend, on average, more than 119 minutes per day on their smartphones.
b. The test-statistic is t = 3.19
c. The critical value = 1.686, we have to reject the null hypotheses
How to determine the valuesFrom the information given, we have that;
a. We have to know that the formula for calculating t-statistic is expressed as;
t = (mean - μ) / (s / √n)
Substitute the given values into the formula:
t = (126.79 - 119) / (24.53 / √101)
find the square root
t = 7. 79/(24.53/10. 04)
t = 7.79/2.44
t = 3.19
b. Using the t-table , the critical value for a one-tailed test;
α = 0.05
Degrees of freedom = n - 1 = 40 - 1 = 39
The critical value = 1.686
We have to reject the null hypotheses
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A core aspect of marketing involves a(n) , which is a transaction in which things of value are traded by buyers and sellers.
A central aspect of marketing involves an exchange, which is a transaction in which things of value are traded between buyers and sellers.
Marketing objectivesThe central objective of marketing is to satisfy the needs and wants of potential consumers through the creation of value, which is achieved through integrated psychosocial factors.
Therefore, a company must focus its strategy in line with the needs of the market in which it operates, to generate competitiveness and positioning.
A successful company will be one that manages to create value through factors such as the quality of its products and services, social responsibility, transparency and reliability.
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What is a sales quote?
Answer:
Explanation:
A sales quote allows a prospective buyer to see the costs that will be involved for desired work.
Hey yall can yall cheer me up for a seek i miss my mommy in she said we was leaving my granny house today in look im still here
Answer:
Stay Strong!
Explanation:
You got ittt! Cry A Bit , then come back harder! LOVE KEN!!!
List five different revenue streams below and briefly explain the importance of each.
(Will give brainliest)
The nature of revenues, their cyclicality and predictability, and, of course, the evaluation and analysis of how to increase or stabilize revenues for the business are all aided by having a working knowledge of revenue streams.
What are the five e-commerce revenue models? Revenue Model for Sales... Model for Advertising Revenue. 3 Model for Revenue from Subscriptions... Model for Revenue from Transaction Fees... Model for Affiliate Revenue.What is revenue and how significant is it?Your company's revenue is the money it receives during a specific accounting period. Because it appears first on your small business's income statement, revenue is also known as the top line. To determine your company's bottom line, you subtract revenue from business expenses.
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what would cause the bank statement balance to differ from the depositor's book balance. multiple choice question.
The bank statement balance may differ from the depositor's book balance for several reasons, includes unrecorded deposits or withdrawal, bank fees or interest payments, timing differences between when deposits or withdrawals occur and when they are recorded and errors in the recording of deposits or withdrawals.
Bank statement balance can differ from the depositor's book balance due to the following reasons:Uncleared checksInterest incomeDirect depositsService charges EFTsAll of the above are the reasons for the bank statement balance to differ from the depositor's book balance.A bank statement is a record of financial transactions that have been made by a customer of a bank or other financial institution over a particular period. A bank statement is also known as an account statement or banking record. Bank statements usually contain information about deposits, withdrawals, and transactions, as well as interest earned and service charges incurred.Balance as used in financial accounting refers to the difference between the total credits and total debits in a financial account during a particular period. A balance in accounting is the result of subtracting credits from debits, whereas a balance in a bank account is the amount of money available in the account at the end of the reporting period.Depositor's book balance is the total amount of cash and securities held by a depositor or financial institution. A depositor's book balance differs from the bank statement balance in that the book balance reflects the depositor's records and reconciliations, while the bank statement balance reflects the bank's records and reconciliations.Learn more about Bank statement: https://brainly.com/question/15525383
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I WILL MARK BRAINIST IF CORRECT
What is the best way to prevent germs from spending when coughing or sneezing?
Cover mouth with tissue
Cover mouth completely with hand
Sneeze in upper sleeve
Turn head away to sneeze
Answer:
Cover mouth wirh tissue
Explanation:
The CDC recommends that you cover your mouth and nose with a tissue when you cough and or sneeze.If you find yourself without tissue,cough or sneeze into your upper sleeve rather than your hands.
Answer:
cover mouth with tissue
Shane Durbin wanted to have a recording studio custom-built in his home. He sent instructions to a number of local contractors to submit bids on the project. Rory Amstel submitted the lowest bid, which was $29,000 less than any other bids Durbin received. Durbin called Amstel to ascertain the type and quality of the materials that were included in the bid to find out if he could substitute a superior brand of acoustic tiles for the same bid price. Amstel said he would have to check into the price difference. The parties also discussed a possible start date for construction. Two weeks later, Durbin changed his mind and decided not to go forward with his plan to build a recording studio. Amstel filed a lawsuit against Durbin for breach of contract. Using the information presented in this chapter, answer the following questions:
1. What are the requirements of an offer? How did Amstel's bid meet those? Explain the Issue, Rule. Analysis and conclusion?
2. Was there an acceptance of the offer? Why or why not? Explain your reasoning with facts from the above case scenario. Explain the Issue, Rule. Analysis and conclusion?
3. How is an offer terminated? Assuming that Durbin did not inform Amstel that he was rejecting the offer, was the offer terminated at any time described here? Explain. the Issue, Rule. Analysis and conclusion?
Amstel's bid met the requirements of an offer as it clearly stated the price for the construction of the recording studio and was communicated to Durbin. The bid also indicated an intention to be bound by the terms stated.
How did Amstel's bid meet the requirements of an offer?Amstel's bid satisfied the requirement of an offer by providing a clear indication of the price for the construction of the recording studio. The bid was communicated to Durbin demonstrating an intention to enter into a contract.
The bid met the essential elements of an offer including specificity of terms and an intention to be bound by those terms. Therefore, Amstel's bid fulfilled the requirements of an offer.
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