BUSINESS HIGH SCHOOL

What is the meaning of accounting.

Answers

Answer 1
Answer: The action or process of keeping financial accounts is what accounting means
Answer 2
Answer: noun: accounting
1.
the action or process of keeping financial accounts.

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It is possible to use a decision making process for any decision.

Answers

I think so, but there may be some exceptions--if any.

Which of the following is not a disadvantage to cash advances on a credit card? a. Cash advances are similar to loans in that they need to be paid back with interest. b. Cash advances require a lot of paperwork and are generally difficult to get. c. Cash advances are often the last thing to be paid when paying off your credit card. d. Cash advances often come with an interest rate much higher than your credit card.

Answers

the correct answer is B. Cash advances require a lot of paperwork and are generally difficult to get.

just did the test, A. was wrong

The statement that is not a disadvantage to cash advances on a credit card is that (A) Cash advances are similar to loans in that they need to be paid back with interest. When you ask for a cash advance, it is a service provided by most credit card and charge card issuers. This will become a credit limit.

As a gift from your parents, you just received $50,000 for your education. You can earn an annual rate of 8% on your investments. How much can you withdraw each year (end of year) for the next 4 years just using up the $50,000?

Answers

Answer:

annual withdrawal = $15096.04

Explanation:

given data

present value = $50,000

annual rate = 8%

time = 4 year

to find out

How much can you withdraw each year

solution

we find here annual withdrawal amount that is express as

annual withdrawal = (present\ value)/((1-(1+r)^(-t))/(r))   ................1

here r is rate and t is time

so put here value we get

annual withdrawal = (50000)/((1-(1+0.08)^(-4))/(0.08))  

annual withdrawal = (50000)/(3.31212)

annual withdrawal = $15096.04

The 2016 financial statements of BNSF Railway Company report total revenues of $19,829 million, accounts receivable of $1,272 million for 2016 and $1,198 million for 2015. The company’s accounts receivable turnover for the year is: Select one: A. 17.0 times B. 8.9 times C. 16.1 times D. 17.9 times E. None of the above

Answers

Answer:

C. 16.1 times

Explanation:

Accounts receivable turnover ratio  = Credit sales ÷ average accounts receivable

where,  

Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) ÷ 2

= ($1,198 + $1,272) ÷ 2

= $1,235 million

And, the net credit sale is $ 19,829 million  

Now put these values to the above formula  

So, the answer would be equal to  

= $19,829 million ÷ $1,235 million

= 16.1 times

Regal Corporation has a component that is a discontinued operation. The revenues and expenses of the component were $120,000 and $100,000 respectively. The component was sold with a resulting loss of $80,000. The tax rate is 40%. What is the total gain or loss on discontinued operations (net of tax effects) that will be reported on the income statement.

Answers

Answer:

$36,000 loss

Explanation:

net effect after taxes = [(operation's revenue - operation's expenses) - gain/loss resulting from sale] x (1 - tax rate)

= [($120,000 - $100,000) - $80,000] x (1 - 40%) = ($20,000 - $80,000) x 60% = -$60,000 x 60% = -$36,000 or $36,000 loss

A company builds a new plant and finances its construction by issuing stock. Which ratio is least likely to be affected, all else being equal? a. Current ratio
b. Debt to equity ratio
c. Debt to asset ratio
d. Net fixed assets to total assets

Answers

Answer:

a. Current ratio

Explanation:

Current Ratio is the least likely to be affected

The  Current Ratio is given as

Current Ratio = [ Current assets ] ÷ [ Current liabilities  ]

Now,

Building a new plant is a fixed asset for the company.

Thus, It will add to the Fixed assets

Since,

The Formula for current ratio is independent of the fixed assets

Therefore,

It will be least affected.

While,

Debt to equity ratio = [ Debt ] ÷ [ Equity ]

Debt to asset ratio= [ Total Debt ] ÷ [ Total Assets ]

Net fixed assets to total assets = [ Net fixed assets ] ÷ [ Total assets ]

in all the above relations, fixed asset will change the value of the total assets.

Hence,

They all will be affected
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