Assets increase by $800,000 because the company receives the cash, and assets also decrease by $800,000 because the company no longer has the right to receive the cash (receivables previously recognized at the time of sale).
How is the company established? The incorporation process involves drafting a document known as the Articles of Incorporation and listing the company's shareholders. In a corporation, business unit assets and cash flows are kept separate from those of owners and investors. This is known as limited liability.In the United States, there are following types of companies: Sole proprietors, limited liability companies (LLCs), S corporations (S corps), and C corporations (C corps).What does Incorporation mean and when should the company be incorporated?Incorporation is the formation of a company as a separate legal entity by being registered with the state. Incorporating may mean incorporating one of several legal structures, such as: B. Limited Liability Company (LLC), C-Corporation (C-Corp), or S-Corporation.Integrate before signing a contract and enjoy limited liability protection. As previously mentioned, incorporation can protect personal assets from business liabilities. This applies to both online and brick-and-mortar businesses.To learn more about companies visit:
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pension-splitting refers to: a. pension becoming part of a divorce decree and being applied to the divorced spouse. b. an agreement such that each spouse gets half of the other's pension. c. an arrangement that gay people can receive a portion of their partners' pension. d. an agreement that the federal government will regulate pension rights.
For a given pension -splitting, only one joint election may be made. You must choose who will serve as the transferring spouse or common-law partner.
If you and your spouse or common-law partner both have eligible pension income and choose to distribute some of your eligible pension income to your spouse or common-law partner (the receiving spouse or common-law partner).Transferring spouse or common-law partner is the person who receives qualifying pension income and chooses to allocate a portion of that income to their spouse or common-law partner for the purposes of the joint election to split pension income (the receiving spouse or common-law partner).Receiving spouse or common-law partner is the person to whom a portion of their spouse's or common-law partner's eligible pension income is assigned for the purposes of the joint election to share pension income (the transferring spouse or common-law partner).To know more about pension -splitting
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beta electronics issued 100,000 shares of no-par common stock at $2.50 per share. what is the journal entry to record this transaction?
The journal entry to record this transaction: outstanding stock.
A journal entry is an act of maintaining or making information about any transactions either monetary or non-economic. Transactions are listed in an accounting journal that shows a company's debit and credit score balances. The journal access can encompass numerous recordings, each of which is either a debit or a credit score.
An instance of magazine access includes the purchase of equipment by us in which the equipment account may be debited, and the coins account could be credited. Every journal entry consists of the facts big to an unmarried commercial enterprise transaction, inclusive of the date, the amount to be credited and debited, a quick description of the transaction, and the money owed affected. relying on the organization, it is able to list affected subsidiaries, tax details, and different statistics.
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question 1 which term refers to the process of initiating a project, making a plan, executing and completing tasks, and closing a project?
Project management is the discipline of initiating, planning, carrying out, controlling, and concluding the work of a team to achieve particular objectives and meet specific success criteria at the designated time, according to the Project Management Institute.
What is a project management do?The project manager is responsible for the project's planning, acquisition, execution, and conclusion. The project manager is in charge of overseeing all aspect of the endeavor, including the project scope, the project team, and the resources assigned to it.
Project management is one of the most difficult jobs since no two days are ever the same and you must utilize all of your project management abilities to solve every problem. In addition, if a difficulty arises, your team will turn to you first. They might believe that you are an expert on all of their questions.
Thus, Project management is the discipline of initiating, planning, carrying out.
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ambrin corp. expects to receive $7,000 per year for 15 years and $8,500 per year for the next 15 years. what is the present value of this 30 year cash flow? use an 11% discount rate. use appendix d and appendix b to calculate the answer.]
Cash flow from operations is created from costs made as a part of the regular route of operations. Examples of those cash outflows are payroll, the value of goods offered, leases, and utilities. coins outflows can vary extensively when business operations are quite seasonal.
Gift cost of annual coins flows = amount*gift fee annuity element
consequently, present price = 7,000*PVAF(11%, 15 years) + eight,500*PVAF(11%, sixteen-30 years)
= 7,000*7.191 + 8,500*(eight.694-7.191)
= 7,000*7.191 + 8,500*1.503
= $63,112.five
A cash flow is a real or virtual movement of money coins drift in its narrow sense is a payment, particularly from one vital bank account to some other; the time period 'cash glide' is in the main used to describe it.
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denver, incorporated, has sales of $18.2 million, total assets of $13.2 million, and total debt of $4 million. the profit margin is 10 percent. what is the company's net income?
The company's net income will be $1,820,000 when the sales of $18.2 million, total assets of $13.2 million, the total debt of $4 million and the profit margin is 10 percent.
What is Net Income?Sales less cost of goods sold, selling, general and administrative costs, operating costs, depreciation, interest, taxes, and other expenses are used to compute net income (NI), also known as net earnings. For investors to gauge how much a company's revenue outpaces its costs, this figure is helpful. net income which is a measure of a company's profitability can be seen on the income statement of a business. A company's earnings per share is determined using net income.
Net income is frequently referred to as the bottom line by business analysts since it appears at the end of the income statement. The term "profit attributable to shareholders" is how analysts in the UK refer to NI.
Net Income = Profit margin × Sales
Net Income = 10% × $18,200,000
Net Income = $1,820,000
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a misunderstanding concerning a basic assumption on which a contract is made will support the rescission of the deal if the mistake is (fill in the blank).
a misunderstanding concerning a basic assumption on which a contract is made will support the rescission of the deal if the mistake is bilateral.
What is rescission, exactly?Rescission is an equitable remedy in contract law that enables a contractual party to break the agreement. In the case of a vitiating circumstance, such as misrepresentation, error, coercion, or undue influence, the parties may withdraw their agreement. A transaction can be rescinded. This is done to return the parties to their pre-contractual state as closely as feasible (the status quo ante).
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What kind of claim is used for billing provider fee-for-service claims to commercial health insurance companies?.
Payment of providers fee-for-service payments to commercial health insurance companies takes the form of a CMS-1500 claim.
Which three basic types of insurance coverage are there?Life insurance policies frequently used include: Term life insurance Whole life protection. Continuity of life insurance
Do you get paid if you have life insurance?Life Insurance: What Is It? You and a health insurer enter into a contract for life insurance. In essence, the insurer company will give your beneficiaries a lump sum, known as a death benefit, in return for your premium payments.Your beneficiaries can utilize the money however they see fit.
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you did well on a telephone interview, and your prospective employer has scheduled a face-to-face interview for the following week. what should you do to prepare for the interview?
There should be an introduction, body paragraphs, and a conclusion in an interview paper. The first paragraph of your essay should offer information that will draw the reader in and encourage them to keep reading.
A gentle definition that highlights the significance of the topic can be used in the paragraph sentence. You'll feel lot more in control if you plan. You will feel cool, calm, and collected because you will have anticipated the interview questions, you will have learned a great deal about the company. You should always extend a warm grin and firm handshake to the interviewer. if you carry out this correctly.
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the following relates to a proposed equipment purchase: initial investment $ 145,000 salvage value $ 4,500 estimated useful life 4 years annual net cash flows $ 46,600 annual depreciation expense $ 35,125 the annual income amount used to calculate the accounting rate of return is:
Answer: $11,475
Explanation:
in the phase of the decision-making process, data is collected from a variety of internal and external sources and processed.
Intelligence phase is phase of the decision-making process, data is collected from a variety of internal and external sources and processed.
Decision-making is seemed because the cognitive system ensuing inside the selection of a belief or a course of motion among numerous feasible alternative options. it is able to be either rational or irrational.
Choice making is the system of making selections by means of identifying a choice, accumulating information, and assessing alternative resolutions. the usage of a step-with-the-aid-of-step decision-making technique can help you make more deliberate, considerate selections via organizing relevant facts and defining options.
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Find the extreme value(s) of each of the following functions and determine whether they are maxima or minima: [10]
a) z = x2 + xy + 2y2 + 3 [10] b)2=-x2-y2 + 6x + 2y [10]c) z = 3x3-5y2-225x + 70y + 23 Zー
z = x2 + xy + 2y2 + 3
The function is optimized when zx = 0 and zy = 0.
zx = \partialz/\partialx = 2x + y = 0.......(1)
zy = \partialz/\partialy = x + 4y = 0.......(2)
(2) x 2 yields: 2x + 8y = 0.......(3)
(3) - (1) yields: 7y = 0, so y = 0
x = -4y [From (2)] = 0
When x = y = 0, z = 0 + 0 + 0 + 3 = 3
Second order condition for maxima is: zxx < 0 and zyy < 0. Second order condition for minima is: zxx > 0 and zyy > 0.
zxx = \partial/\partialx(zx) = 2 > 0
zyy = \partial/\partialy(zy) = 4 > 0
Therefore, it is a minima.
(b)
z = - x2 - y2 + 6x + 2y
The function is optimized when zx = 0 and zy = 0.
zx = \partialz/\partialx = - 2x + 6 = 0
2x = 6
x = 3
zy = \partialz/\partialy = - 2y + 2 = 0
2y = 2
y = 1
When x = 3 and y = 1, z = - (3 x 3) - (1 x 1) + (6 x 3) + (2 x 1) = - 9 - 1 + 18 + 2 = 10
Second order condition for maxima is: zxx < 0 and zyy < 0. Second order condition for minima is: zxx > 0 and zyy > 0.
zxx = \partial/\partialx(zx) = - 2 < 0
zyy = \partial/\partialy(zy) = - 2 < 0
Therefore, it is a maxima.
(c)
z = 3x3 - 5y2 - 225x + 70y + 23
The function is optimized when zx = 0 and zy = 0.
zx = \partialz/\partialx = 9x2 - 225 = 0
9x2 = 225
x2 = 25
x = - 5 or x = 5
zy = \partialz/\partialy = - 10y + 70 = 0
10y = 70
y = 7
When x = - 5 and y = 7, z = 3 x (- 5)3 - 5 x (7)2 - 225 x (- 5) + 70 x 7 + 23 = - 375 - 245 + 1125 + 490 + 23 = 1018
When x = 5 and y = 7, z = 3 x (5)3 - 5 x (7)2 - 225 x 5 + 70 x 7 + 23 = 375 - 245 - 1125 + 490 + 23 = - 482
Second order condition for maxima is: zxx < 0 and zyy < 0. Second order condition for minima is: zxx > 0 and zyy > 0.
zxx = \partial/\partialx(zx) = 18x
When x = - 5, zxx = 18 x (-5) = - 90 < 0
When x = 5, zxx = 18 x 5 = 90 > 0
zyy = \partial/\partialy(zy) = - 10 < 0.
Therefore, when x = -5 and y = 7, it is a minima. But when x = 5 and y = 7, the solution is neither maxima nor minima.
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investors who fear rising infation may buy treasury inflation protectio securites how do tips shield lendsers from inflation
The face value or par value of a TIPS increases with inflation and decreases with deflation.
Do rising prices benefit or harm lenders?Inflation benefits borrowers by allowing them to pay back loans with funds that are now worth less than they were when they first borrowed them. When inflation raises prices, there is a greater demand for loan, which results in higher interest rates that are advantageous to lenders.
The beneficiaries of inflation?Investors in stocks and commodities. Investors can profit from inflation despite slow economic growth rates provided they have the right stocks and commodities in their portfolios. Equity holders: Investing in stocks is far preferable to holding cash during periods of high inflation.
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Which of the following statements is (are) true regarding the sales activity variance?
A) The sales activity variance is the actual selling price per unit times the difference between the budgeted units and actual units.
B) If the sales activity variance for sales revenue is unfavorable, then the contribution margin sales activity variances will be unfavorable.
a. Only A is true
b. Only B is true
c. Neither A and B is true
d. Both A and B are true
the sales activity variance If the sales activity variance for sales revenue is unfavorable, then the contribution margin sales activity variances will be unfavorable. so only option b is true.
What Does Sales Revenue Mean?The terms revenue and sales revenue are sometimes used synonymously. However, the concept of revenue includes income derived from sources other than those directly connected to the primary business, such as interest on savings or money distributed as dividends. Revenue comprises income derived from the sale of goods and services. The classification of this is "non-operating income." According to 81% of CFOs who responded to Brainyard's State of the CFO survey, KPIs that measure revenue, income, and sales growth are the most crucial. The basis of the income statement and the primary determinant of a company's profitability is the accurate tracking of sales revenue.
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which kind of messages can be used in problem-solving based on using the competition (win-lose) style of conflict management?
We'll talk about five conflict management techniques: competing, avoiding, accommodating, compromising, and collaborating.
Which dispute resolution approach demonstrates low concern for oneself and strong concern for others?In that one conforms to or obliges another without offering personal input, the accommodating conflict management style is often seen as passive or submissive and indicates a low concern for oneself and a high concern for others.
Which method of handling conflict involves ignoring or discussing things subtly?When there is a disagreement, one person may use passive-aggressive behavior, in which case they express their negative emotions or thoughts by engaging in nonverbal behaviors like procrastinating.
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the ability of one company or economy to produce more of a particular product is a(n) advantage.
Answer:Comparative advantage
Explanation:
The ability of one company or economy to produce more of a particular product is a(n) advantage.
A small pastry business is in the process of creating ads within their Display campaign. They find that there are two main ad formats that they can use. What are the two main ad formats used in a Display campaign? Choose two. Select 2 Correct Responses
Call-only ads
Text ads
In-stream video ads
Uploaded ads (Image & AMPHTML)
Responsive Display ads
In a display campaign, there are two primary ad formats: \
a) Uploaded ads (Image & AMPHTML)
b) Responsive Display ads
Display Advertising: What Is It?Display advertising is a technique for luring a website's, social media platform's, or other digital medium's audience to take a particular action. These frequently feature text-based, image-based, or video advertisements that prompt viewers to visit landing pages and take action.
Cost per click (CPC) is the primary payment method for the majority of display and internet advertising campaigns.In other words, each time a user clicks on your ad on a search engine, you will be charged a specific sum based on your overall bidding strategy.
Campaigns for retargeting can also employ them. Here, advertising are displayed to people who have already visited a specific website. The objective is to "retarget" them and persuade them to visit the website again and complete the same action.
In light of this, let's examine what attributes a successful display ad campaign and how to create eye-catching ad copy that will draw in your target market.
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the text presents three arguments in support of global advertising. what are those three arguments? multiple select question.
Informative, Persuasive, Reminder
Advertising that is informative raises people's awareness of brands, services, goods, and concepts. It can educate people about the features and benefits of new or established products as well as new programs and products.
Persuasive advertising works to change people's perceptions of a company or product and improve its image by trying to persuade them that its services or products are the best. Its objective is to convince customers to act and switch brands, try new products, or stick with one brand.
People are reminded about the need for a product or service or the features and benefits it will provide if they buy it quickly in reminder advertising.
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A company that wants to use scenes from the pixar movie soul in its advertising campaign would have to have a __________ with the pixar company to use the movie.
When animating its feature-length and short films, Pixar Animation Studios uses proprietary software called Presto that was created in-house.
Who is the creator of the Presto software?For their data analysts to do interactive searches on its sizable data warehouse in Apache Hadoop, Face-book, Inc. (later renamed Meta), the company that gave rise to Presto, originally built and developed it. Eric Hwang, David Phillips, Dain Sundstrom, and Martin Traverso were the first four programmers.
Who or what uses Presto?Presto is an open source, distributed SQL query engine made for quick, interactive searches on data in HDFS and other places. It lacks its own storage system, in contrast to Hadoop/HDFS. As a result, Hadoop and Presto complement each other, and businesses often use both to address more complex business problems.
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Private Publishing has two office employees. A summary of their earnings and the related taxes withheld from their pay for the week ending August 7, 2019, follows.Ann Chen David Kendrick Gross earnings $ 1,220.00 $ 1,090.00 Social security deduction (75.64 ) (67.58 ) Medicare deduction (17.69 ) (15.81 ) Income tax withholding (326.59 ) (196.31 ) Net pay for week $ 800.08 $ 810.30 1&2. Prepare the general journal entry to record the company’s payroll and to summarize the checks to pay the weekly payroll.
The company’s payroll and to summarize the checks to pay the weekly payroll.The difference between the gross income and all deductions is the net pay for employees.Statistics and computations.Net pay to the employee $70,000.
Gross income equals $100,000.
Deductions:
Community Security
Medicare\s$6,700
$18,000 in federal income taxes
$1,450 in total deductions
$3,850 in state income tax
Net pay = $70,000
David Kendrick Gross earnings $ 1,220.00 $ 1,090.00 Social security deduction (75.64 ) (67.58 ) Medicare deduction.A wage is money that an employer gives to an employee in exchange for labour that is accomplished over a specific period of time. In addition to compensating payments like the minimum wage, prevailing wage, and annual bonuses, wages also include remunerative rewards like prizes and tip payouts. Wages are a part of the expenses related to running a business.
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Which structure is the following true for? ______ have a calling mechanism involving the EIP. Both Macros and Procedures .
Neither macros nor procedures
Marcos
Procedures
Procedures have calling mechanism involving the EIP is the true structure.
What is mechanism?A mechanism typically makes up a smaller portion of a mechanical system or machine. A steering mechanism in a car or a wristwatch's winding mechanism are two examples of complete machines that may occasionally be referred to as mechanisms. But typically, a machine is only a collection of various mechanics. Even if every mechanism in a mechanical system is three-dimensional, if the movement of its constituent parts is restricted so that all of its point trajectories are parallel or connected in a series to a plane, then the mechanism can be analyzed using plane geometry. A planar mechanism is the appropriate term in this situation. Planar rotations and translations, designated by SE, are used in the kinematic study of planar mechanisms. SE is a subset of the Special Euclidean group SE.
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one major reason a candidate might turn down the fec subsidy is because candidates who receive subsidies. t/f
One major reason a candidate might turn down the FEC subsidy is that candidates who receive subsidies option a, cannot spend an unlimited amount of money on their campaign.
FEC subsidy or FEC funding is managed by Financial Election Commission. It was established in 1974 to enforce campaign finance law in the elections in the United States. It discloses information about election finances and ensures legal limits and prohibitions on contributions and public funding for the election. It decides the criteria of which taxpayers can donate and how much they can donate.
One major reason a candidate might turn down the FEC subsidy is that candidates who receive subsidies has restricted to spending only a limited amount of money on their campaign. They cannot accept private contributions as well which restricts their expenditure on campaigns.
More options to the questions are
a. cannot spend unlimited amounts of money on their campaign
b. cannot accept donations from individuals or groups
c. must use campaign donations to pay back subsidies
d. must keep detailed records of their expenses and disclose how much they spend
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a streaming services startup wants to make sure their ad is streamed in one country, but not another for brand safety considerations. what resource should they use to review these metrics?
a streaming service startup wants to make sure their ad is streamed in one country, but not another for brand safety considerations. They should use the verification tool.
streaming serviceThese are online portals that offer multimedia material, such as TV series, movies, music, or audiobooks. Furthermore, the material must be streamed to the end user without requiring them to download any files or programs in order to play the desired piece of media.
The initial websites were just text pages with a picture or two. Anyone with a fast enough Internet connection may now watch high-definition movies or make video calls over the Internet. This is possible because of a technology called streaming.
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The six steps Ittner and Larcker propose for maximizing the value of nonfinancial measures when using a balanced scorecard include all of the following except:
Multiple Choice
Assess outcomes.
Base actions on the findings of the model.
Gather data.
Base actions on the data.
Continually refine the model.
The six steps Ittner and Larcker propose for maximizing rate of nonfinancial measures when using balanced scorecard include all of following except base actions on data.
What is balanced scorecard?A balanced scorecard is indeed a strategy performance management tool that managers can use to keep track of how the employees under their control are carrying out their duties and the results of those actions. It is a well-structured report. The term "balanced scorecard" mainly applies to a performance management report used by a management team, and generally this team is focused on managing the implementation of the a strategy or operational activities. In a 2020 survey, 88% of participants said they used the balanced scorecard to manage the implementation of their strategies, and 63% said they used it to manage their operations. Although it is uncommon—only 17% of survey participants utilized Balanced Scorecard in this way—individuals can also use it to monitor their own performance.
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this term is used to state the quoted value of a bond but does not include the value of any accrued interest that bondholders would earn.
The term "clean price" refers to the quoted value of a bond that excludes any accrued interest.
What are bonds?Bonds are issued by governments and enterprises in order to raise funds. By purchasing a bond, you are making a loan to the issuer, and they pledge to pay you back the face value of the loan on a particular date, as well as periodic interest payments along the way, usually twice a year.
When you own bonds in your portfolio, you can gain two potential benefits: They provide a steady stream of income while mitigating some of the risk associated with stock ownership.
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Brew-at-home is entering a foreign market and is spending significant funds on educating customers about the benefits of making beer at home with its beer-making system. The cost the company is spending on education is a type of __________ cost.
As stated in the preceding statement A sort of pioneering expense is the money the business is spending on education.
Describe the top 3 business cost ?The three primary categories of expenses that are taken into consideration throughout the manufacturing process are tangible assets, production overhead, and overhead. There are a few exceptions, including certain automated manufacturing companies that are exempt from direct labor costs and some service industries that are exempt from direct material costs.
What does "cost" signify in business?Cost is the sum of money that a company spends to manufacture or offer goods or services. The overall profit markup is not included. According to the vendor, cost is the total amount of money used to provide a good or service.
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a bank statement provided by a bank includes all of the following except: group of answer choices a list of deposits recorded by the bank. the beginning and the ending balance of the bank account. a list of bank fees. a list of outstanding checks. g
Such as processed deductions and deposits, our average daily balance, and any interest earned.
A deposit is an act of setting coins with a few entities, most commonly with a monetary institution, inclusive of a financial institution. traditionally, there are 4 varieties of bank deposits in India, which are - cutting-edge Accounts, habitual Deposits, financial savings money owed, and Fixed Deposit accounts.
A deposit is a amount of money stored in a bank account. the two styles of deposits are demand deposits and time deposits. call for deposit money owed include checking bills, financial savings accounts, and money marketplace money owed. Time deposit accounts encompass certificates of deposit money owed and character retirement money owed.
Deposits are savings products that clients can use to preserve an sum of money at a bank for a particular length of time. In go back, the economic group pays the consumer the applicable amount of interest, based on how a lot they choose to deposit and for how long.
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an example of a public policy response to a monopoly is: group of answer choices public ownership. doing nothing. antitrust laws. all of these are examples.
Antitrust laws are one instance of a policymaking response to a monopoly.
Simply put, what is antitrust law?The antitrust laws generally forbid mergers and commercial practices that are illegal, leaving it up to the courts to determine which ones are on the basis of the specific details of each case. Throughout history, from the era of horse-drawn carriages to the modern digital era, courts have applied antitrust rules to evolving marketplaces.
What are prohibited by antitrust laws?It outlaws any agreements or plots that restrict trade or commerce. Price fixing, trade allocation, general strikes, bid rigging, and tying agreements are examples of these forbidden constraints. The Sherman Act forbids monopolization in any sector of the economy as well as attempts to do so.
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when school districts are funded by local taxes only, the likelihood of disparities in funding goes up. t/f
Disparities in funding are more likely when school districts only get revenue from local taxes. The act of providing resources to finance a need, programme, or initiative is known as funding. So,the given statement is True.
While typically in the form of money, this can also be in the form of an organisation or company's time or effort. The phrase financing is used when a firm obtains capital from outside sources, whereas this word is typically employed when a firm uses its internal reserves to satisfy its need for cash.
Credit, venture capital, gifts, grants, savings, subsidies, and taxes are just a few of the financial options available. "Soft funding" or "crowdfunding" refers to financial resources such as donations, subsidies, and grants that do not directly require a return on investment.
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in great britain, the wine and spirit association estimates that, pre-brexit, cars returning from france were loaded with 80 bottles of wine. this is most likely due to
In Great Britain, the Wine and Spirit Association estimates that, on average, cars returning from France are loaded with 80 bottles of wine. This is most likely due to high excise and VAT taxes.
An excise tax is a regulated tax imposed at the point of sale on particular items or services, such as alcohol, cigarettes, and gasoline. Excise taxes are domestic taxes applied within a government infrastructure as opposed to foreign taxes levied across international borders. Typically, sales of cigarettes, motor gasoline, airline tickets, and other goods and services are subject to a federal excise tax.
A value-added tax, sometimes known as a VAT, is a consumption tax levied on the value added throughout each stage of the production of a thing or service. Each company along the value chain is given a tax credit for the already-paid VAT. It is a tax on final consumption because the end user does not.
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2. Jordan gets confused and uses his credit card to get $40 in cash from an ATM instead of
using his debit card. Based on this agreement, what is the impact of this decision?
a. There is no impact since credit card and debit card terms tend to be the same.
b. A $10 cash advance fee will be charged ONLY.
c. An A.P.R. of 25.24% will be applied on the $40 until it is paid back ONLY.
d. A $10 cash advance fee will be charged AND an A.P.R. of 25.24% will be applied on the
$40 until it is paid back.
Based on this agreement, the impact of this decision is D. A $10 cash advance fee will be charged AND n A.P.R. of 25.24% will be applied on the $40 until it is paid back.
What is APR?The annual percentage rate (APR) is the interest generated by a sum charged to borrowers or paid to investors each year. APR is a percentage that represents the actual yearly cost of funds over the life of a loan or the income earned on an investment. This includes any fees or additional costs associated with the transaction but excludes compounding.
The APR provides consumers with a single number that they can use to compare lenders, credit cards, and investment products.
Since Jordan gets confused and uses his credit card to get $40 in cash from an ATM instead of using his debit card, a cash advance fee will be taken.
In conclusion, the correct option is D.
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