Now that he has a part-time job, your younger brother Daniel is opening up his own checking account. You want to pass on what you have learned about checking accounts to him. Prepare a list of recommendations for Daniel covering the following topics: Questions he should ask before opening an account Three ideas on how best to manage his account Three features of online and mobile banking that he should use Overdraft protection: Opt-in or opt-out?
Answers
Answer:
1. He should ask about all the fees the bank charges and interest rates. He should also ask why he should open up his checking account with them. He should compare banks to see which is the best option for him.
2. One way he can best manage his account is to download the mobile banking app if there is one. A second idea would be to make sure he is being cautious about entering the pin number in busy stores or shopping on unsecured websites. A third idea for him to best manage his account would be to not get overdraft protection. There can be a lot of fees when getting this protection.
3. One feature of online and mobile banking he should use is direct deposit. It is a fast way to directly receive money into your checking account. Another feature is many apps allow access to both the checking and savings account. It is an quick way to transfer money between these two accounts. A third feature is cashing checks online. He can cash his checks online by using the mobile app and taking a picture of it.
4. He should not get overdraft protection. He shouldn't get overdraft protection because it adds up after you have run out of money. Overdraft protection is one of the main ways banks make a profit.
Explanation:
Related Questions
What is the difference between final goods and intermediate goods?
Answers
A) Final goods are goods that are purchased by the end-consumer or user for their personal consumption or use.
B) Intermediate goods, on the other hand, are goods that are used as inputs in the production of other goods.
Final goods and intermediate goods are terms used in economics to distinguish between different types of goods in the production process. Here's a breakdown of the difference between the two:
1. Final Goods:
Final goods are goods that are purchased by the end-consumer or user for their personal consumption or use. These goods are ready for consumption and do not undergo further processing or transformation before reaching the final consumer. Examples of final goods include food products, clothing, electronics, furniture, and vehicles. Final goods are the end result of the production process and are intended for final consumption or use.
2. Intermediate Goods:
Intermediate goods, on the other hand, are goods that are used as inputs in the production of other goods. They are not intended for final consumption but are instead used as raw materials, components, or capital goods in the production process. Intermediate goods undergo further processing or transformation before being included in the final goods. Examples of intermediate goods include raw materials like steel or wood, components like circuit boards or engines, and machinery or equipment used in production.
The key distinction between final goods and intermediate goods lies in their purpose and stage in the production process. Final goods are produced for the ultimate satisfaction of consumers' needs and are ready for consumption, while intermediate goods are used in the production of other goods and undergo further processing.
It's important to note that when calculating a country's Gross Domestic Product (GDP), only the value of final goods is considered. Intermediate goods are excluded to avoid double-counting, as their value is already included in the final goods they contribute to. By focusing on final goods, GDP provides a measure of the value of goods and services produced for final consumption in an economy.
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In order to calculate marginal cost, producers must compare the difference in the cost of producing one unit to the
cost of
purchasing a unit
o distributing that unit.
producing the next unit.
O producing a different unit.
Answers
In order to calculate marginal cost, producers must compare the difference of producing one unit to the cost of producing the next unit
Marginal cost is the change in total cost as a result of increasing output produced by one unit.
For example, if the total cost of producing 20 units of a good is 1000 and the total cost of producing 30units is 1200.
Marginal cost is (1200 - 1000) / (30 - 20) = 12
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Answer:
Producing the next unit.
Explanation:
AKA: C
Children are likely to carry on the economic tildes of there parents in a __?
A:mixed economy
B:command economy
C:traditional economy
D: market economy
Answers
Q23. It is said that controlling function is the best source to judge the accuracy of the
standards set in order to achieve the objectives. Do you agree? Give any two reasons
in support of your answers.
Answers
Explanation:
Control is an extremely important administrative function for achieving organizational objectives and goals.
To control is to monitor and analyze how the systems that make up the organizational whole are moving in search of reaching the proposed goals.
A manager who exercises control effectively, will ensure that the resources that the company has in a given period are used according to the forecasts and the established strategy, in addition to motivating employees to be more productive and develop their skills in favor of efficiency and ensuring the achievement of objectives.
How do i get as much mony as bill gates todey?
Answers
Answer:
be very famous
Explanation:
why do i need to have 20 letters
why do you think states have licensing requirements for certain occupations?
Answers
Answer: to prevent improper use or causing an issue with the thing they have to get a license for
Which of the following is particularly pertinent in evaluating whether an industry presents a sufficiently attractive business opportunity? Group of answer choices Whether the market leaders enjoy competitive advantages and how hard it is to develop a strongly differentiated product Constructing a strategic group map and assessing the attractiveness of the competitive position of each strategic group An assessment of which firms in the industry have the best and worst competitive strategies, whether the number of strategic groups in the industry is increasing or decreasing, and whether economies of scale and experience curve effects are a key success factor Whether there are more than 5 key success factors and more than 5 barriers to entry The industry's growth potential, whether competition appears destined to become stronger or weaker, and whether the industry's overall profit prospects are above average, average, or below average
Answers
Answer:
Which of the following is particularly pertinent in evaluating whether an industry presents a sufficiently attractive business opportunity? Group of answer choices Whether the market leaders enjoy competitive advantages and how hard it is to develop a strongly differentiated product Constructing a strategic group map and assessing the attractiveness of the competitive position of each strategic group An assessment of which firms in the industry have the best and worst competitive strategies, whether the number of strategic groups in the industry is increasing or decreasing, and whether economies of scale and experience curve effects are a key success factor Whether there are more than 5 key success factors and more than 5 barriers to entry The industry's growth potential, whether competition appears destined to become stronger or weaker, and whether the industry's overall profit prospects are above average, average, or below average
Explanation:
Question 1: Topic - Bank Reconciliation
The 2020 June bank statement of Wheeler Ltd has just been received from its bankers. The owner, Ken
Wheeler, has been quietly monitoring internal controls over few months and has sufficient grounds to
believe that cash is being misappropriated in his business. He has approached an accounting consultant,
Tony, to verify his accounting records and confirm his worst fears. Tony is supplied with the
reconciliation statement at the end of last month together with the cash records and the most recent bank
statement of Wheeler Ltd.
Last Month’s Reconciliation statement is presented below:
Bank Reconciliation Statement as at 31 May 2020
($)
Balance as per Bank Statement 30 April 2020 4328.90 Cr
Add: Outstanding Deposit 1224.50
5553.40
Less: Unpresented Cheques 223.70
Balance per Cash at Bank Account at 31 May 2020 $5329.70 Dr
The total of the cash receipts journal for June is $64,776.30 and the total of the cash payments journal is
$63,265.60. The current bank statement shows that cheques presented and paid amount to $59,725.10,
and total deposits amount to $64,780.60. There are also additional debits on the statement for a
dishonored cheque for $210, and account fees for $20.
Additional information:
An examination of the records reveals that all reconciling items at 31 May 2020 appear in the bank
statement for June, unpresented cheques at 30 June total $7154.40, and the 30 June deposit of
$1950.40 has not been credited by the bank. Your check of the cash journals reveals that addition errors
have been made by the clerks responsible. Receipts should total $65,766.30 and payments should total
$63,185.60.
Required:
a) Prepare the Cash at Bank account of Wheeler Ltd showing the final balance at 30 June 2020.
(4 marks)
b) Prepare the bank reconciliation statement of Wheeler Ltd at 30 June 2020. (4 marks)
c) Advice the owner, Ken Wheeler, whether cash is being misappropriated by any amount, assuming
that the records maintained by the bank are accurate. (3 marks)
Answers
Answer:
Wheeler Ltd
Balance per Cash at Bank Account at 31 May 2020 $5,329.70 DR
Total cash receipts for June, 2020 $65,766.30
less Total cash payments for June, 2020 ($63,185.60)
Dishonored check ($210.00)
Bank charges ($20.00)
Adjusted balance per Cash at Bank $7,680.40 DR
Bank Reconciliation Statement at 30 June 2020
Adjusted balance per Cash at Bank $7,680.40
Add Unpresented cheques at 30 June total $7,154.40
Less Uncredited deposits = ($1,950.40)
Balance as per bank statement, 30 June, 2020 $12,884.40
c) Cash was misappropriated by $1,070 with the under-counting of cash receipts ($990) and overstatement of cash payments ($80).
Explanation:
a) Data and Calculations:
Total cash receipts = $64,776.30 $65,766.30 $990 error understated
Total cash payments = $63,265.60 $63,185.60 $80 error overstated
Checks presented and paid by bank = $59,725.10
Checks deposited in June = $64,780.60
Dishonored check $210
Bank charges $20
Additional information:
Unpresented cheques at 30 June total $7,154.40
Uncredited deposits = $1,950.40
What term means the unused option when deciding how to use one's
resources.
Answers
Answer:
Opportunity cost
give the meaning of office machine
Answers
Answer: Equipment
Explanation:The equipment used in an office; for example: phones, computers, and printers. ... These markets cover computers and other machines for workplaces.
Hope this helps! Brainlist?
Answer:
What are office machines? The Cambridge Dictionary defines office machinery as the equipment used in an office for example: phones, computers, and printers These markets cover computers and other machines for workplaces.
Explanation:
When might you use the Bank Deposit Transaction in Quickbooks Online?
• Your client wants to apply a customer payment to an open invoice
• Your client wants to record an SBA loan amount received
• Your client wants to record sales from her upcoming trade show and provide sales receipts
• Your clients wants to refund a customer
Answers
Answer:
• Your client wants to apply a customer payment to an open invoice
Explanation:
• Your client wants to apply a customer payment to an open invoice
help with the blank lol
Answers
Which of the following best explains what a futures contract is?
a. a contract preventing the future sale or exchange of a particular good
b. a contract limiting the future liability of one set of partners if a business fails
c. a contract setting the price for the exchange of two foreign currencies
d. a contract setting the price and date for a commodity purchase
Answers
Answer:
d. a contract setting the price and date for a commodity purchase
Given the following Balance of Payment data for a given country: Current Account Balance: $1,400 Capital Account Balance: $80. What must be the Financial Account Balance: $nothing. (Enter your answer as an integer. Include the minus sign if necessary.)
Answers
Answer:
$1,320
Explanation:. Calculation to determine what must be the Financial Account Balance
Using this formula
Financial Account Balance=Current Account Balance-Capital Account Balance
Let plug in the formula
Financial Account Balance=$1,400-$80
Financial Account Balance=$1,320
Therefore the Financial Account Balance is $1,320
Assume that the hypothetical economy of Econoland has 10 workers in year 1, each working 2,000 hours per year (50 weeks at 40
hours per week). The total input of labor is 20,000 hours. Productivity (average real output per hour of work) is $10 per worker.
Instructions: In parts a and b, enter your answers as a whole number. In part c, round your answer to 2 decimal places.
a. What is real GDP in Econoland?
$
b. Suppose work hours rise by 1 percent to 20,200 hours per year and labor productivity rises by 4 percent to $10.40. In year 2, what
will be Econoland's real GDP?
$
c. Between year 1 and year 2, what will be Econoland's rate of economic growth?
percent
Answers
In year one, the Econoland economy has 10 workers, each working 2,000 hours per year (50 weeks at 40 hours per week).
a. $200,000
b. $210,080
c. 5.04 percent
What is GDP?Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced and sold by countries during a specific time period. Because of its complex and subjective nature, this measure is frequently revised before being considered a reliable indicator. The gross domestic product (GDP) is the monetary value of all finished goods and services produced within a country during a given time period.GDP provides an economic snapshot of a country and is used to estimate the size of an economy and its growth rate. GDP can be calculated in three ways: through expenditures, production, or income. Gross domestic product, or GDP, is a metric used to assess the health of a country's economy.To learn more about GDP, refer to:
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Prompt What is liability?
Answers
Answer:
The state of being responsible for something, especially by law
HELP ME PLSSS SOMEONE HELPP ILL GIVE BRAINLIEST
tom sold 3 cars ( a total value of $112,500) in the month of january. it is paid only by commission for its seller. he receives a commission of 7%. what is tom’s salary for the month of january?
Answers
Answer:
$7,875
Explanation:
Total car sales in January: $112,500
Commission at the rate of 7%,
Salary for January is :
7 percent of $112,500
=7/100 x $112,500
=0.07 x $112,500
=$7,875
One goal of the Occupy Movement was to encourage the practice of bank bailouts.
Group of answer choices
True
False
Answers
The Labour Relations Act provides that every employee has the right not to be unfairly dismissed. Discuss this statement (Refer to section 185 of the LRA) (20)
Answers
The National Labor Relations Act ("NLRA"),
National labor relation act approved by Congress in 1935,made it plain that the United States' objective is to promote collective bargaining by upholding employees' complete freedom of organization. By giving workers in private-sector companies the fundamental right to demand better working conditions and choice of representation without fear of punishment, the NLRA safeguards workplace democracy. Section 1. Strikes and other forms of industrial conflict or unrest have the intention or necessary effect of impeding or obstructing commerce by (a) affecting the effectiveness, safety, or operation of the instruments of commerce; (b) occurring as a result of (a) the denial by some employers of the right of employees to organize and the refusal by some employers to accept the procedure of collective bargaining in the flow of commerce; (c) materially affecting, restricting, or controlling the flow of raw materials or manufactured or processed goods from or into the channels of commerce, or the prices of such materials or goods in commerce; or (d) causing a decline in employment and wages in a quantity that significantly affects or disrupts the market for goods flowing from or into the channels of commerce.
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hiii can someone pretty pls help me with this :D
Select an industry of your choice. Use online sources to find the most recent data available on the following aspects related to the industry that you select:
-economic indicators
-employment statistics
-top three competitors in the industry, by sales volume
Answers
Employment statistics.
You would need these if you are going to work in a business. After all, an business needs workers!
Joseph and Krystal are part of your social group. They joined Missile’s Financial Services together as middle managers. Each one, reports to a different senior manager. These senior managers report to the Managing Director. Once a month after payday, Joseph, Krystal and other members of the social group all try to have lunch together.
Joseph is very distressed. ‘I’ve had an awful week and this morning was the worst!’ He recounts what happen between himself and Nicholas, his manager.
‘Nicholas and I were to meet with a new supplier to finalize a contract. I have been dealing with the supplier all this time, over two and a half months and we just needed to finalize the costing. We had reached an agreement about the cost that both of us were comfortable with. For the past two weeks, I have been trying to get Nicholas to look at the contract and agree the figures etc. We really need this guy’s company. They are fast and have a great reputation for products and services. The price is good and they are willing to customize the stationary, with no additional cost to us. Anyway, Nicholas was always too busy to meet. I emailed him the contract and my teams thoughts on how we should proceed hoping he would read it.’ My team consists of the Accounts/Finance Manager, Inventory Manger, Legal, Research & Development, Public Relations Manager and I, and we meet at different times and days, whether collectively or selectively.
‘Anyway we, Nicholas and I, met with the supplier this morning. We are going through the contract, the next thing I know Nicholas says, ‘This won’t work for us. The cost is too high. Where did these calculations come from?’ ‘If the floor had opened up and swallowed me I could have not been more embarrassed. I mean I spent three weeks, working on it with the team Accounting, PR and Legal! Joseph shaking his head continued, ‘he just took over the conversation. I mean we got the contract signed but in the end all that happened was that the figures were rearranged we still end up paying the same.’ ‘I am tired of this foolishness. He stays locked in his office on his cell every day. Only God knows what he does in there.’
1. Do you believe that Nicholas is an unethical manager? Justify your response by choosing one of the ethical decision making concepts outlined in unit 2 to argue/support your writing.
2. From the chosen ethical decision making concept selected by you in question 1, show its relationship to any one of the variables in an analytical tool, outlined in unit 1, read.
Answers
1. Based on the information provided, it is not possible to ascertain whether Nicholas is an unethical manager. However, Joseph’s account of the situation raises some red flags about Nicholas’ behavior.
2. The chosen ethical decision-making concept is fairness, which is one of the key ethical principles in business.
1. Based on the information provided, it is not possible to ascertain whether Nicholas is an unethical manager. However, Joseph’s account of the situation raises some red flags about Nicholas’ behavior. It appears that Nicholas did not take the time to review the contract or the team’s thoughts, but still took over the conversation with the supplier and changed the figures. This behavior could be seen as a violation of the ethical principle of fairness, which involves treating others in a reasonable, equitable, and impartial way. Nicholas’ actions suggest that he did not give due consideration to the team’s input or their efforts to finalize the contract, which could affect their working relationship and trust in him as their manager.
2. The chosen ethical decision-making concept is fairness, which is one of the key ethical principles in business. Fairness is based on the idea of treating all stakeholders equitably and impartially, taking into account their needs, interests, and perspectives. In this case study, Nicholas’ actions appear to violate the principle of fairness by disregarding the efforts of Joseph and his team to finalize the contract, and making unilateral changes without adequate review or discussion.
To analyze this situation using an analytical tool, we can use the Stakeholder Mapping tool, which helps to identify and categorize stakeholders based on their level of interest and power. In this tool, stakeholders are divided into four categories: High power/high interest, High power/low interest, Low power/high interest, and Low power/low interest. In this case, Joseph and his team are the stakeholders with high power and high interest in the situation, as they are responsible for finalizing the contract.
Using the Stakeholder Mapping tool, we can see that Nicholas’ actions have the potential to undermine the trust and collaboration of high power/high-interest stakeholders, who are critical to the success of the project. Specifically, his actions may cause frustration, resentment, and loss of confidence in his management ability. This could result in a breakdown of communication and cooperation, which would ultimately affect the team’s performance and the overall success of the project. Therefore, it is important for Nicholas to consider the perspectives and input of all stakeholders, including those with high power and high interest, when making decisions that affect them. By doing so, he can ensure that his decisions are ethical, fair, and aligned with the needs of all stakeholders.
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what is the difference between hire purchase and differed payment?
Answers
Explanation:
In deferred payment, the borrower will agreed to pay certain amount of money on the promised date. ... In hire purchase, the purchaser will be getting the belongings without paying the full price of the item. The purchasers would make down payment and the balance is paid in installments.
Explanation:
Hire purchase is a system by which one pays for a thing in regular installments while having the use of it but deferred payments are payments that are completely or partially postponed for financial reasons
What is a conversion rate?
Answers
Answer:
number of conversions divided by the total number of visitors.
Explanation:
Answer:
In electronic commerce, conversion marketing is marketing with the intention of increasing conversions--that is, site visitors who are paying customers. The process of improving the conversion rate is called conversion rate optimization.
why do many essential products that we use (e .g water) have relatively low prices, while other less essential products (e.g diamonds) command higher prices? Explain this paradox using marginal utility approach
Answers
In a market economy, the cost of many necessities for human life is significantly lower than the cost of less necessary necessities.
What do you call necessities?
Anything you need in order to function correctly or complete an action is referred to as a need. Life cannot exist without water. Alternative Words: essential, need, need, necessary More necessary synonyms Countable noun You must use your revenue to purchase necessities, which are goods or services. Basic necessities include things like food, clothing, heat, shelter, and medical attention. something which is essential. For the beach, sunscreen is a must-have. food, clothing, and other essentials. It's important to get enough of sleep. Living close to work is essential for those without cars.
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Kesselring Corporation makes one product and has provided the following information to help prepare the master budget for the next three months of operations: Budgeted unit sales (all on credit): July8,400 August8,800 September12,200 Raw materials requirement per unit of output 4pounds Raw materials cost$3.00per pound Direct labor requirement per unit of output 2.8direct labor-hours Direct labor wage rate$18.00per direct labor-hour Predetermined overhead rate (all variable)$11.00per direct labor-hour The ending finished goods inventory should equal 40% of the following month's sales. The budgeted finished goods inventory balance at the end of August is closest to: (Round your intermediate calculations to 2 decimal places.) Select one: A. $454,816 B. $358,192 C. $304,512 D. $150,304
Answers
* READING ASSIGMENT
Error affect control and subsidiary ledger accounts
Answers
A mistake was made in posting the sum of subsidiary books to the ledger. the Trial Balance's omission of an account balance.
Which errors can affect the balancing of trial balance?A mistake was made in posting the sum of subsidiary books to the ledger. the Trial Balance's omission of an account balance. incorrectly displaying the account balances in the Trial Balance or by using the incorrect values. erroneous account balance computation. Although it contains the exact balances needed to create a company's financial statements, the control account keeps the general ledger clear of unnecessary information. The subsidiary ledger makes it possible to keep a closer eye on the transactions that take place in the control account. Duplicating the same entry or recording a correct account to the incorrect vendor or customer are examples of accounting errors. No entry is made even though there was a transaction for the time, which is known as an error of omission.To learn more about trial balance refer to:
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TRUE/FALSE. Although companies believe in and rely heavily on advertising, some people have significant misperceptions about advertising and what it's supposed to do.
Answers
Although companies believe in and rely heavily on advertising, some people have significant misperceptions about advertising and what it's supposed to do. The statement is true.
Advertising is a crucial component of marketing, designed to inform and persuade consumers about a product or service. Through various media such as television, print, digital, and outdoor, advertising delivers a message to a targeted audience, creating brand awareness and driving sales. However, advertising is not without its criticisms. Some people view it as manipulative or misleading, and question its ability to influence consumer behavior. Despite these concerns, companies continue to invest heavily in advertising because of its potential to reach and engage with consumers on a large scale. Advertising can be effective in building brand recognition and driving sales, but it is just one piece of the larger marketing puzzle. A well-rounded marketing strategy should also include other tactics such as public relations, market research, and social media.
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Loaded-Up Fund charges a 12b-1 fee of 1.0% and maintains an expense ratio of 0.75%. Economy Fund charges a front-end load of 2% but has no 12b-1 fee and an expense ratio of 0.25%. Assume the rate of return on both funds’ portfolios (before any fees) is 6% per year. How much will an investment of $1,000 in each fund grow to after:
Answers
How much will an investment in each fund grow to after: (LO 4-5)
a. 1 year?
b. 3 years?
c. 10 years?
Answer:
A. Year 1 = $1036.35
B. Year 3 = $1158.96
C. Year 10 = $1714.08
Explanation:
Given an investment of $1000. The end value of the investment will be equal
to I × (1 - front-end load) × (1 + r - true expense ratio)T
Loaded-Up:
Then add the 12b-1 fee to the operating expenses to obtain the true expense ratio: Expense ratio + (12b-1 fee) = 1% + 0.75% = 1.75%
a. Year 1 = $1000 (1 + 0.06 - 0.0175) = $104.25
b. Year 3 = $1000 (1 + 0.06 - 0.0175)^3 = $113.30
c. Year 10 = $1000 (1 + 0.06 - 0.0175)^10 = $151.62
Economy fund:
a. Year 1 = $1000 * 0.98 (1 + 0.06 - 0.0025) = $1036.35
b. Year 3 = $1000 * 0.98 (1 + 0.06 - 0.0025)^3 = $1158.96
c. Year 10 = $1000 * 0.98 (1 + 0.06 - 0.0025)^10 = $1714.08
Kelly agrees to provide a two hour goat yoga class for Tara and Gabby for $20.00 each. An hour and 50 minutes into the lesson, Kelly misreads the clock and dismisses Tara and Gabby from the lesson. Can Tara and Gabby sue for breach of contract?
Answers
Tara and Gabby would not be able to sue Kelly for breach of contract if the court determines that 10 minutes less is not a material breach and Kelly acted in good faith.
Why would Tara and Gabby not be able to sue?Kelly did not break the contract on purpose and instead acted in good faith based on what they perceived the time to be.
The 10 minutes that was denied Tara and Gabby were also not very significant and so might not warrant a material breach. If the court finds these two things to be the case then there is no breach of contract.
In conclusion, option A is correct.
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an example of a disincentive?
Answers
Answer:
Failing to have the incentive you once had; to take the incentive, the stimulus, the spirit from something, from someone or from oneself; discourage, discourage:
"Excessive taxes disincentive trade."
"In the face of so many problems, he became disincentived."
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