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1. Briefly explain what is "utility". Briefly explain which is worth more, a dollar today or a dollar in the future (in your explanation be sure and explain "why")? How does inflation affect the value of money? Are we in a period of inflation or deflation today?
2. Briefly explain the three Uses and Misuses of Credit? In your answer please give an example of each. What is the difference between a want and a need (please explain in your own words).
3. Briefly explain the difference between open-end (revolving) and closed-end credit. What is the difference between fixed interest rate and variable rate?
4. Explain the value of personal accounting system. In your explanation why keeping good records is important and uses for these records. What is the purpose of a budget?
a company recorded for the past year a sales of 500,000 and an operating incme of 40,000. What is the turnover needed to earn in order to achieve an ROI of 20%
RETAINED PROFITS BROUGHT FORWARD If we recall from the consolidated balance sheet, the group-retained profits should be made up of the holding companies retained profit plus the
Level of detail Financial accounting reports provide users with a comprehensive overview of performance and position of business for a period. Consequently, information is aggr
You will gain welfare from consuming bread and chocolate. Your welfare is described numerically by W = 4B + 2C, where B denotes the quantity of bread you choose to consume, and C d
Mark up Mark up is defined as the rate of gross profit to cost of sales: Mark up = Gross Profit Cost of sales Margin is defined as the rate of gros
I would like you to take the second set of data from session 8 (the one you worked with in the first participation exercise) and do the following: 1. Determine the number of gr
The intestate leaves no spouse but children The net estate devolves upon the surviving children and is divided equally between them. If any child has not, at the time of intest
Evaluating the investment using return on capital employed: Annual depreciation charge = 1500000/5 = $300000 Average investment = 1500000/2 = $750000 Average annual
A. Material Sampling -Analyzing Direct Material Costs You are reviewing a cost proposal, which includes an $800,200 direct material estimate. After Initial examination of the pr
SURVIVORSHIP POLICY The partners may take out a survivorship policy to safeguard against future cashflow problems incase a partner dies or the business is dissolved. E.g. incas
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