When following smart buying to purchase a home you should
A) create a budget and determine what PITI you can afford.
B) check out your FICO score and get a copy of your credit report.
C) look at your overall financial plan to determine how big a loan you should take on.
D) determine how much of a down payment you can afford.
E) all of the above.
Answer: E
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Under the modified cash basis of accounting, no accounts receivable are entered in the accounting system
a. True b. False Indicate whether the statement is true or false
Biglersville Corp purchased equipment at the beginning of 2016 for $16,000 . Biglersville Corp decided to depreciate the equipment over a 5-year period using the straight-line method. Biglersville Corp estimated the equipment's residual value at $1,000 . The estimated fair market value at the end of 2016 was $15,000 . Which of the following statements is correct concerning Biglersville Corp's
financial statements at December 31, 2016? a. The book value of the equipment is $30,000. b. The book value of the equipment is $13,000. c. The total accumulated depreciation is $1,000. d. The equipment will be reported on the balance sheet at it fair market value of $15,000.
List specific jobs that should be segregated in (1) the purchases processing system and (2) the cash disbursements system
Why would a company establish a petty cash fund?
What will be an ideal response?