This claim is untrue because a more informal approach for evaluating existing sources is required as the buyer-supplier network expands in size and complexity.
What is informal system?Ad hoc, informal work groups can develop informal systems to fulfil information needs that formal systems are unable to address. These are strong systems that successfully serve many organisations' various needs. Informal systems for gathering, processing, storing, or disseminating data do not adhere to any formal or pre-established rules.
Why should systems analysts be aware of informal systems?If a system analyst is well-versed in the formal and informal structures of an organisation , they can quickly identify candidates for system analysis phase interviews. The establishment of formal systems requires a lot of time and work, and people are frequently resistant to change, which leads to the emergence of informal systems. There are instances where a system is required but there isn't enough time to wait for one to be formally built. To handle the problem, an informal system is formed (perhaps including components of the previous system). Until a formal system can be constructed, the informal system is frequently intended to be used in the interim. However, because it is a functioning system and there are demands for the time and money needed to construct or maintain other formal systems, the temporary system frequently becomes the established system. Additionally, unofficial mechanisms develop to deal with unique situations that cannot be resolved by modern technologies.
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person 1 is busy finishing up a project plan when their colleague comes in and delivers a contribution to the project. the deadline hasn’t passed yet, and there is still ample time to finish the project. however, person 1 found that their colleague didn’t complete the work the way that person 1 had asked. what is the most reasonable course of action for person 1?
The project's success is crucial, hence every attempt should be taken to incorporate the contribution from Person 1's colleague if doing so will improve the project.
What do you mean by effective teamwork?Effective teamwork entails everyone being dedicated to and working toward a common objective. Teamwork maximises the individual strengths of team members to bring out their best.
As there is still plenty of time to finish the project, Person 1 should instruct their colleague to do the necessary work so that it can be added to the project before the deadline passes.
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Victor valencia is paid $10 per hour. During the week ended 6/30, victor worked 40 hours. Assuming a 6. 2% social security tax, the company would withhold $ from victor's gross pay for social security taxes. Multiple choice question. 24. 80 2,480 2. 48 248. 0
Assuming a 6. 2% social security tax, the company would withhold a. $ 24. 80 from Victor's gross pay for social security taxes .
How to find the amount withheld for Social Security ?The Social Security tax is charged on the income of people to allow the government to be able to maintain social security payments to the older people in America . The current rate is 6.2 % of a person's income up to a certain amount of their yearly income .
The amount to be withheld from Victor Valencia's payment can be found by first finding what Victor Valencia earned:
= Number of hours worked x Pay per hour
= 40 x 10
= $ 400
The social security tax would be:
= Social security tax rate x Earnings in the week
= 400 x 6.2 %
= $ 24. 80
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harper is saving for retirement. she deposits $350 each month at 4.9% annual interest for 30 years. according to her calculations, at the end of 30 years, she should have $285,963.16 in her account. how much of this did harper contribute and how much of this is interest?
The amount contributed by Harper is equal to $12600 and the interest is equal to $$159963.16.
People often save money for future by making investments in the form of deposits in banks. The banks give some amount of interest on the deposited amount which are the extra amount earned as profit. Harper also saves money for retirement and deposits $350 each month for 30 years. Now to find the amount contributed by Harper we multiply per month amount to number of years and months that is
Amount contributed = $350 × 30 × 12
Amount contributed = $126000
Now we find the interest earned by Harper as
Interest amount = Amount in bank - Amount contributed
Interest amount = $285963.16 - $126000
Interest amount = $159963.16
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Standardized agreements to buy or sell a specified amount of currency at a date in the future at a pre-determined price are called_____.
Currency futures contracts are standard contracts to buy or sell a certain amount of currency at a future date for a predetermined price.
What is a futures contract on a currency?"Currency futures" are futures contracts for currencies that describe the price of exchanging one currency for another at a later date. For the purpose of determining the rate for currency futures contracts, the spot rates of the currency pair are employed. Currency futures can be used to hedge against the risk of receiving payments in a different currency.
What benefits may you get from buying a currency futures contract?A currency futures contract is an agreement to buy or sell a specific amount of money at a specific price at a later date. This contract provides protection from the risk of changing foreign exchange rates by defining the cost of acquiring a currency.
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clinton, a manager at a textile company, is bothered by a lack in quality of products manufactured by his company. clinton hopes to infuse quality into the company through continuous improvement by involving everyone who works there. this describes which control philosophy?
Clinton wants to involve every employee in the company's ongoing improvement in order to infuse it with quality. This is the total quality management control philosophy.
How does total management theory work?Total Quality Management (TQM) is a management philosophy founded on the idea that an organization may achieve long-term success by having all of its members—from entry-level employees to its top executives—concentrate on enhancing quality and, as a result, generating customer satisfaction.
What do you understand by absolute quality control?Total quality control is a comprehensive collection of methods used to reduce faults throughout a whole business. An organization can significantly increase its profitability and customer satisfaction by doing this. Employees from all departments who have the authority to make changes must be involved.
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a firm in a purely competitive industry has a typical cost structure. the normal rate of profit in the economy is 6 percent. this firm is earning $18 on every $200 invested by its founders.
a firm in a purely competitive industry has a typical cost structure.
a) fee of return = incomes/Investment
earning =$18
Investement = $2 hundred
charge of return = 18/200 = 9%
b) fee of earnings of financial system = 7%
company fee of income = nine%
employer price of income - charge of profit of economy = nine%-7% = 2% >zero
So, a corporation is an income a monetary profit of two%.
c. As the enterprise is only competitive in nature, it's going to be like big numbers of manufacturers competing with each different to meet the want and desires of a large variety of consumer. in this industry, there can be barriers to entry or exit. In flawlessly competitive markets, there aren't any obstacles to entry or go out. this is a first-rate important characteristic of flawlessly aggressive markets because agencies are capable of freely inputting and exiting in reaction to capacity profit.
So, the sure industry might see a lot of access or exit.
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Stellar Co. follows the practice of valuing its inventory at the lower-of-cost-or-market. The following information is available from the company's inventory records as of December 31, 2020. Replacement Cost/Unit Estimated Selling Price/Unit $11.24 Item Unit Cost Quantity 1,800 Completion & Disposal Cost/Unit $1.61 0.96 Normal Profit Margin/Unit $1.93 1.28 A $8.99 $8.03 8.77 B 1,500 8.45 10.06 с 5.99 5.78 1.23 0.64 1,700 1,700 D 0.86 7.70 6.74 7.17 4.07 6.85 1.61 4.49 6.74 E 2,100 0.75 1.07 Greg Forda is an accounting clerk in the accounting department of Stellar Co., and he cannot understand why the market value keeps changing from replacement cost to net realizable value to something that he cannot even figure out. Greg is very confused, and he is the one who records inventory purchases and calculates ending inventory. You are the manager of the department and an accountant.
When determining an asset's value for inventory accounting, the NRV method is frequently utilised. Accounts receivable and inventory are two of the biggest assets that a firm may disclose on a balance sheet. Both of these asset classes are valued using the NRV method.
The NRV adheres to a more traditional method of accounting. In circumstances where professional judgement is necessary for the appraisal of the transactions, the conservatism approach instructs accountants to adopt valuation methods that yield a smaller profit and do not overestimate the worth of the assets.
In the lower cost or market method of accounting reporting, net realisable value is a crucial measure. The inventory of the company must be reported on the balance sheet at a lower value than either the historical cost or the market value under the market method reporting technique. The net realisable value can be used as an approximation of the market value if the inventory's market value is uncertain.
For the given question, the solution is attached in the form of image.
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Disclaimer: Your question is incomplete. Please write th complete question by looking over the internet.
after reading netflix case 11 on page c-140 what forces do you believe are driving change in this global industry? are the combined impacts of these driving forces likely to be favorable or unfavorable in terms of their effects on competitive intensity and future industry profitability?
Numerous factors influence the movie rental business. The opportunity for new players to enter this market is a constant force for change.
What are riving forces?
There are minimal barriers preventing rivals from entering the movie rental sector, which is expanding quickly. This may easily dilute the market and eventually cause a problem. The competition between businesses is another element guiding the sector. The industry is seeing a rapid increase in rivals.
It is challenging for this industry to compete for clients because the items offered have little to no distinctions and the consumer's cost of switching providers is relatively low. The driving force behind something in motion; for example, He was unquestionably the new administration's driving force. This phrase refers to the process of transferring an engine's or a vehicle's driving force to other businesses. One of the first to utilize it metaphorically was Ralph Waldo Emerson (English Traits, 1856): "The ability of its journals is the driving force."
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Ireland Corporation obtained a $50,000 note receivable from a customer on June 30, 2013. The note, along with interest at 4%, is due on June 30, 2014. On September 30, 2013, Ireland discounted the note at Cloverdale bank. The bank's discount rate is 8%. What amount of cash did Ireland receive from Cloverdale Bank?
$46,000
$48,880
$50,500
$46,880
The amount of cash that Ireland receive from the Cloverdale Bank is $ 46,880.
What is cash?Cash in economics refers to currency in its actual, physical form, such as the coins and banknotes. Cash is defined in bookkeeping and financial accounting as current assets, which include cash or its equivalents that may be obtained immediately or very immediately. Cash is viewed as tool to either prevent a decline in financial markets or as a reserve for payments, in the event of a structural or accidental negative cash flow. Due to their ability to print money, nation-states are now in charge of reducing inflation by regulating the money supply. It also rendered unnecessary the connection between the coin's metal and its value. Coins mainly stopped being used as currency starting in 1816, while some big silver and gold coins continued to be used until 1927.
$50,000*104%=$52,000
The interest on the discounting is :
$52,000*8%*15/12=$5,120
Cash received=$52,000-$5,120=$ 46,880
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sylvia wants to buy a car, and she has narrowed down her options to four brands. she is currently comparing the features of the four cars. in the context of the activities included in the consumer decision-making process, sylvia is engaged in .
Sylvia wants to buy a car, and she has narrowed down her options to four brands. She is currently comparing the features of the four cars. In the context of the activities included in the consumer decision-making process, Sylvia is engaged in evaluation of alternatives.
The process of making choices by identifying a decision, gathering information, and evaluating alternative resolutions is known as decision making. By organizing relevant information and defining alternatives, a step-by-step decision-making process can help you make more deliberate, thoughtful decisions.
In everyday life, you have many decision-making examples, such as deciding what to wear. Making a decision about what to eat for lunch. Choosing a book to read
The decision-making process includes the following steps: define, identify, assess, consider, implement, and evaluate
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Sylvia wants to buy a car, and she has narrowed down her options to four brands. She is currently comparing the features of the four cars. In the context of the activities included in the consumer decision-making process, Sylvia is engaged in _____.
need recognition
evaluation of alternatives
postchoice evaluation
search for information
a manager is putting together a proposal for the planning, implementation, and evaluation of a new call light system after gathering data from the current system. what type of planning strategy is this manager demonstrating?
Strategic planning is this manager demonstrating.
A manager is a expert who takes a management role in an enterprise and manages a team of employees. regularly, managers are responsible for coping with a specific branch in their enterprise. there are numerous varieties of managers, but they normally have duties like undertaking overall performance critiques and making selections.
Maintains workforce by using recruiting, deciding on, orienting, and schooling personnel. guarantees a secure, comfy, and prison paintings environment. Develops personal growth possibilities. Accomplishes staff outcomes by means of speaking activity expectancies; planning, monitoring, and appraising task outcomes.
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a facility is designed to produce 100,000 pcs per year with cost of $1.50 per unit at full capacity. at an output of 75,000 pcs cost is $1.75 per unit. the difference in cost illustrates
A facility is designed to produce 100,000 pcs per year with cost of $1.50 per unit at full capacity. at an output of 75,000 pcs cost is $1.75 per unit. the difference in cost illustrates. The utilization effect
Knowing the way to calculate usage costs is vital for regulation companies. when you understand the way to calculate usage price for your law company, that expertise can provide perception into your firm’s billing performance. even as knowing a way to calculate usage charge is important, you ought to additionally maintain in mind these other key regulation firm KPIs:
Usage fee: As said above, the utilization charge measures workload and productivity. you could calculate the usage price with the aid of dividing billable hours labored by means of the variety of hours labored in an afternoon.
Cognizance price: This measures the capacity cost of labor achieved. you can decide your regulation firm’s cognizance price by means of dividing the wide variety of billable hours invoiced through the quantity of hours labored.
Series price: This charge measures the ability to capitalize on paintings performed. you may decide this with the aid of dividing the quantity of hours accrued with the aid of the range of hours invoiced.
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if abc is more accurate, why would a manufacturing company implement traditional costing over activity based costing?
Compared to conventional costing methods, activity-based costing(ABC) solutions are more accurate. This is because they provide a more precise analysis of indirect expenses. ABC systems are more difficult and expensive to deploy, though.
What is activity-based costing(ABC)?⇒An organization's activities area unit known victimization the activity-based cost accounting (ABC) technique, that then allocates the value of every activity to every product and repair looking on what proportion of every is really consumed. this system allocates a lot of indirect prices (overhead) into direct prices than ancient cost accounting will.
ABC is associate degree approach to the cost accounting and watching of operations that contains following resource consumption and cost accounting final outputs, per CIMA, the leased Institute of Management Accountants. Resources area unit allotted to activities and activities to value objects supported consumption estimates. The latter do therefore by ligature activity prices to outputs through value drivers.
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Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $180,000 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product.
Sales Value at
Split-Off Point Allocated
Joint Costs Cost to Process
Further Sales Value of
Processed Product Spock $210,000 $40,000 $110,000 $300,000 Uhura 300,000 60,000 85,000 400,000 Sulu 455,000 80,000 250,000 800,000 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Spock Uhura Sulu Incremental profit (loss) $Kirk Minerals processes materials extracted $Kirk Minerals processes materials extracted $Kirk Minerals processes materials extracted Indicate whether each of the three joint products should be sold as is, or processed further.
Spock Kirk Minerals processes materials extracted sold as isprocess further Uhura Kirk Minerals processes materials extracted process furthersold as is Sulu Kirk Minerals processes materials extracted sold as isprocess further
Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products.Sales Value at Allocated Joint Costs at Split-Off Point Value of Processed Product after Additional Sales at Cost.
Spock $210,000 $40,000 $110,000 $300,000
Uhura 300,000 60,000 85,000 400,000
Sulu 455,000 80,000 250,000 800,000
determining each of the three combined products' incremental profit or loss.Profit under processing is subtracted from the present profits to determine incremental profit or loss.For example, incremental profit or loss equals profit being processed minus current profit.$210,000 - $40,000 = $170,000 is the current profit.$300,000 - $40,000 - $110,000 = $150,000 is the profit under processing.
Profit or Loss Incremental = $150,000 - $170,000
Current Profit = $300,000 - $60,000 = $240,000; Incremental Profit or Loss =-$20,000 — Loss for Uhura.
Incremental Profit or Loss = $255,000 - $240,000 Profit Under Processing = $400,000 - $60,000 - $85,000.Profit for Sulu; Incremental Profit or Loss = $15,000.Current Profit = $455,000 - $80,000 = $375,000.Profit Under Processing equals $800,000 - $80,000 - $250,000 = $470,000 Incremental Profit or Loss equals $470,000 - $375,000 Incremental Profit or Loss equals $95,000 —Profit.
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which of the following statements is correct? group of answer choices a) an increase in people's expected future income shifts the aggregate demand curve leftward. b) a tax increase shifts the aggregate demand curve leftward. c) an increase in exports shifts the aggregate demand curve leftward. d) the higher the price level, the larger is the quantity of real gdp demanded.
A) an increase in people's expected future income shifts the aggregate demand curve leftward of the following statements is correct.
Aggregate demand for is a measurement of the full quantity of call for for all completed items and services produced in an financial system. combination demand is expressed as the total sum of money exchanged for the ones items and offerings at a particular fee degree and factor in time.
Combination call for is a time period used in macroeconomics to describe the full call for for goods produced domestically, which include purchaser goods, offerings, and capital items.
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marta has a tight marketing budget and needs to use a strategy that can drive customers to her website for a set cost. which bidding strategy has the potential to meet marta's needs?
Maximize clicks bidding strategy has the potential to meet Marta's needs and increase marketing.
What is Maximize clicks?An automated bid strategy that sets your bids automatically can help you obtain the most clicks for your money.
The website will try to collect as many clicks as it can while using your daily budget when you use the Maximize Clicks feature.
This approach can work wonders if you're looking to increase traffic to your website for branding and list-building purposes, or if you have excellent conversion rates and need to discover more volume.
An automated bidding approach, although not a smart bidding strategy, is to maximize clicks. Simply said, employ it while attempting to maximize clickthrough rates while staying inside your budget.
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if interest rates in the overall economy decrease to 4 percent, which one of the following is most likely to be the approximate market value of a $1,000 corporate bond with a fixed interest rate of 6 percent?
If interest rates in the overall company decrease to 4%, the approximate market value of a $1,000 corporate bond with a fixed interest rate of 6% is $1,500.
It is the amount a lender charges a borrower and is a percentage of the principal - the amount loaned.
What it the connection between interest rate and bonds?
Bond prices have an inverse relationship with interest rates. It means that if the interest rate go up, then the bond prices will go down and if the interest rate go down, then the bond prices will go up.
How to calculate the market value?
Bond price
= Face value * (Coupon rate / Interest rate)
= 1000 * (6% / 4%)
= 1000 * 1.5
= 1,500
Therefore, the market value of a corporate bond is $1,500.
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consensus, majority, averaging and authority rule with discussion are all examples of what? a. modes of team action b. team leadership structures c. team leader attributes d. team report headings
Consensus, majority, averaging and authority rule with discussion are all examples of team decision making.
Managers use decision-making as a leadership competency to analyze a situation and choose how the organization should move forward. The subsequent actions are part of the decision-making process: recognizing the difficulty In this phase, the manager finds a problem and establishes the circumstances that gave rise to it.
You give coworkers the chance to share ideas, learn from one another, and work toward a common objective by involving them in the decision-making process. In turn, you encourage teamwork and aid in dismantling organizational silos.
The given question is incomplete, the complete question is:
consensus, majority, averaging and authority rule with discussion are all examples of what? a. modes of team action b. team leadership structures c. team leader attributes d. team report headings e. team decision making.
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at the end of the first year of operations, gaur manufacturing had gross accounts receivable of $251,000. gaur's management estimates that 6% of the accounts will prove uncollectible. what journal entry should gaur record to establish an allowance for uncollectible accounts?
The journal entry to establish an allowance for uncollectible accounts is as follows
Bad debt expense A/c Dr $15,060
To Allowance for doubtful debts $15,060
(Being bad debt allowance recorded)
The bad debt expense is calculated as shown below, as 6% of the accounts are proven uncollectible.
$251,000x 6/100
$2510x 6
=$15,060
In order to make the proper posting, we debited the bad debt expense and credited the allowance for doubtful debts account.
A bad debt expense is recognized when a receivable is no longer collectable as a result of a customer's inability to pay an outstanding debt due to bankruptcy or other financial troubles.
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In the activity rate for the Customer Orders activity pool is $20 per order and there are 400 customer orders, the total overhead cost assigned to this cost pool is $__.
400x20=8000
In the activity rate for the Customer Orders activity pool is $20 per order and there are 400 customer orders, the total overhead cost assigned to this total cost pool is $ 400x20=8000.
Total cost (TC) in economics is the least expensive way to produce a certain amount of output. This is the entire economic cost of production and consists of fixed costs that are incurred regardless of the amount of a thing produced and include inputs such as buildings and machinery, possibly including sunk costs, and variable cost, which varies depending on the quantity of a good produced and includes inputs like labor and raw materials. In economics, the total cost of each item of production includes the entire opportunity cost as one of its fixed or variable costs.
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Fixed Overhead Variances Assume that ExxonMobil uses a standard cost system for each of its refineries. For the Houston refinery, the monthly fixed overhead budget is $8,300,000 for a planned outputs of 5,000,000 barrels. For September, the actual fixed cost was $8,650,000 for 5,100,000 barrels.a. Determine the fixed overhead budget variance. $Answer Favorable or Unfavorable?b. If fixed overhead is applied on a per-barrel basis, determine the volume variance. Favorable or Unfavorable?
Solution a:
Fixed overhead budget variance = Budgeted fixed overhead - Actual fixed overhead
= $8,300,000 - $8,650,000 = $350,000 Unfavorable
Solution b:
Predetermined overhead rate per barrel = $8,300,000 / 5000000 = $1.66 per barrel
Fixed overhead applied = 5100000*$1.66 = $8,466,000
Fixed overhead volume variance = Fixed overhead applied - Budgeted fixed overhead
= $8,466,000 - $8,300,000 = $166,000 Favorable
A budget is a calculation plan, normally but not usually economic, for a described length, regularly three hundred and sixty five days or a month. A budget may also consist of anticipated income volumes and sales, resource portions including time, expenses and costs, environmental influences which include greenhouse gas emissions, different influences, assets, liabilities and cash flows. corporations, governments, households, and other corporations use budgets to explicit strategic plans of sports in measurable phrases. A price range expresses intended expenses along with proposals for a way to meet them with resources.
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because our flight monitor product is the best on the market, we are certain you will place an order next month. one of our representatives will be coming by next tuesday to complete your order. too pushy too general too timid
Because our flight monitor product is the best on the market, we are certain you will place an order next month. one of our representatives will be coming by next tuesday to complete your order. The issue here is that it is too pushy. Option A.
What does it mean for a request to be too pushy?A person who is deemed to be excessively aggressive, forceful, or insistent is referred to as pushy. Individuals who strive to persuade others to comply with their demands or to agree with them are often those who are referred to as pushy.
They are sending a representative to complete the order without taking the customer's perspective into account or providing them the opportunity to ask questions about the goods.
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Read the following closing of a persuasive request, and then identify what is wrong with it.
Because our flight monitor product is the best on the market, we are certain you will place an order
representatives will be coming by next Tuesday to complete your order.
Too pushy
Too timid
Too general
a stock had a return of 9.7 percent last year. if the inflation rate was 2 percent, what was the approximate real return?
7.5% is the real rate of return
real rate of return = (1+NominalRate) ÷ (1+InflationRate)-1
real rate of return= [(1 + 0.097) / (1 + 0.02)] -1
real rate of return = 0.075 or 7.5%
What is real rate of return?
The annual rate of return that is taken into account after taxes and inflation is known as the real rate of return. A nominal rate of return, on the other hand, is one that excludes taxes and inflation. Similar to this, the real rate of return is one that accounts for taxes or inflation in its computation.
How do you calculate the real rate of return?
The real rate of return formula is: (1+NominalRate) ÷ (1+InflationRate)-1. This calculation determines the cash value of your investment after accounting for the impact of inflation and taxes.
sometimes a member of an audit engagement team may wish to leave their audit firm and seek employment with their client. do some research on this topic. what did you discover?
There is a defense that an auditor wouldn't be impartial if they hired someone from their client. But as long as the auditor was not a partner or engagement leader in a senior position at the audit firm.
For example, this is generally regarded as being acceptable. In this case, the previous engagement leader may have a significant impact on future decisions made by the audit team or may have a thorough understanding of the audit team's general operating procedures.
There is less chance that a member of the audit engagement team who is less senior will be able to affect current choices going forward. The audit team member applying for a job with the firm is typically seen as reasonable and acceptable in these circumstances.
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Neon Lighting is comparing actual and applied overhead amounts at the end of the year and finds the factory overhead account has a credit balance. What does this mean
a.Actual costs are higher than applied costs.
b.The entire balance is charged back to work in process inventory.
c. Applied costs are higher than actual costs.
d. The balance should be carried over from year to year.
At the close of the year, Neon Lighting compares applied and actual overhead expenses and discovers that applied costs are greater than real expenditure since the production overrun account has a receivable.
How you employ quantities?When referring to a proper pronoun that CANNOT be measured, use the word amount. When addressing to either a plural or a singular term that CAN be counted, use number.
How should quantities be written?The dollar symbol ($) and the sum of whole dollars are written after the decimals to represent the amount. Put an decimal point after that. Then, to the left of the decimal, enter the amount in cents ().
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qzuilet which of the following best describes upics? a. upics are federally funded. b. upics are paid by grant monies. c. upics only cover certain states where fraud is prevalent. d. upics are private companies contracted by cms.
CMS uses private companies as its Unified Program Integrity Contractors (UPIC).
What is the purpose of a UPICs?The primary goal of UPIC is to look into allegations of fraud, waste, and abuse in Medicare or Medicaid claims. In order to stop the wrongful payment of funds from the Medicare Trust Fund, they conduct early and prompt investigations and take immediate action.
What place in society do Medicaid Integrity Contractors (MICs) have?For the purpose of conducting post-payment audits of Medicaid providers, CMS has agreements with businesses referred to as Audit Medicaid Integrity Contractors (Audit MICs). Finding overpayments and ultimately reducing the payment of false Medicaid claims are the main goals of provider audits.
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alice took out a loan for $19,500 at 13 1/2% on nov 4, 2018 which will be due on january 14, 2019. using ordinary interest, what will be the interest cost and what amount will alice pay back on january 14, 2019?
The required answer is $20,019.19.
Interest that is calculated and paid back using a 360-day calendar year rather than a full 365 days is termed as ordinary interest. Even while there isn't much of a difference in the computation, there may be a significant difference in the amount, particularly in large loan transactions.
Banks and business organisations frequently employ ordinary interest. When there is an issue with exact interest, it is specified that exact interest is needed; otherwise, ordinary interest is assumed to be the type of interest necessary.
In the given question,
Principle, P = $19,500
Rate of interest, R = 13 1(/2)% = 0.135
Time period, T = 71/360 year (Ordinary interest)
We know that,
Interest = (P x R x T)/100
= 19,500 x 0.135 x 71/360
= $519.19
Therefore, Alice needs to pay back $20,019.19 ($19,500 + $519.19).
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That's pretty cool. Can I see an example?
Sure.
In the beginning of 1997, Priscilla invested $5,000 in a savings account that that pays 8% annual income, compounded quarterly. If Priscilla makes no further deposits into or withdrawals from the account, approximately how much money will she have in the account two years later, at the end of 1998?
$800
$858
$5,800
$5,858
$10,000
In the beginning of 1997, Priscilla invested $5,000 in a savings account. She have in the account two years later, at the end of 1998 is $5,800
Option D is correct.
Calculating the problem:Interest rate = 8% annual
Time - 2 years
Compound - quarterly.
P = $5,000, r = 8%, n = 4 times a year (compounded quarterly), t = 2 years.
Balance after two years will be 5,000(1 + 8%/4)4×2
5,000(1.02)8.
A 8% annual simple interest on a principal of $5000 will give
5,000×8%
= 5,000 × 8 / 100
= 50 × 8
= $400 a year.
Over two year, the savings account will earn 2×$400 = $800 using simple interest, and the balance at the end of 1998 will be 5000+800 = $5800.
Why is it called compound interest?Compound interest is interest on a deposit calculated on both the principal amount and the accumulated interest from previous periods. Or, more simply put, compound interest is interest earned on interest. Interest can be compounded according to different frequency schedules such as daily, monthly, and yearly.
Why is compound interest important?Compound interest allows your money to grow faster because interest is calculated based on accrued interest over time, not just the original principal. Compound interest can create a snowball effect as the original investments and the income from those investments grow together.
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In cell C6, enter a formula that multiplies the value in C5 for the month of January by the value in cell B6. Use a mixed reference for the cell B6 so that only column B does not change when copied. Use relative reference for all other cell references
Precision Building Average Kitchen Remodel Atlanta Boston Denver Honolulu Houston Avg Cost $43,000 $60,000 $38,000 $51.500 $53,00 5 Cost Increase 1.1
Enter a formula in cell C6 that increases the value of Atlanta city in cell C5 by the value of cell B6.
A mixed reference is one that contains both absolute and relative references. The absolute reference is specified with the symbol $. Column B is locked, or $B6 indicates that it cannot be modified when the formula is duplicated. Furthermore, C5 uses a relative reference rather than an absolute reference. Row and column change when a formula is duplicated, depending on the cell to which it is copied. Additionally, for B6, the row varies depending on the cell the copied formula is pasted into but the column remains stable (i.e., B doesn't change).
Put a formula in cell C6 that raises the value of the city of Atlanta from cell C5 to cell B6. In order to prevent only column B from changing when copied, use a mixed reference for cell B6. For all other cell references, use relative references.
C6 = C5*$B6
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Larue buys an iPod for $150 and a new laptop for $1,200, and signs a one-year employment contract for a $4,800 monthly salary to start at the beginning of the next month. The Statute of Frauds coversa. the employment contract, and the laptop and iPod purchases.b. the employment contract and the laptop purchase only.c. the employment contract only.d. the laptop and iPod purchases only.
Larue buys an iPod for $150 and a new laptop for $1,200 and signs a one-year employment contract for a $4,800 monthly salary to start at the beginning of the next month. The Statute of Frauds covers the employment contract, and the laptop and iPod purchases.
In regulation, fraud is intentional deception to comfortable unfair or unlawful advantage, or to deprive a sufferer of a felony proper. Fraud can violate civil law (e.g., a fraud sufferer can also sue the fraud culprit to keep away from the fraud or recover economic repayment) or crook law (e.g., a fraud perpetrator can be prosecuted and imprisoned by the governmental government), or it can purpose no lack of cash, assets, or felony proper however nonetheless be an element of some other civil or criminal wrong.
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