Describe how to calculate total finance charges on a credit card when there is a purchase balance and a cash advance balance using a daily periodic rate and the average daily balance method
Calculate the periodic rate for purchases and cash advances by dividing each APR by 365 days and convert to a decimal. Calculate the periodic finance charges for purchases by multiplying the average daily balance by the periodic rate by the number of days in the month. Calculate the periodic finance charges for cash advances by multiplying the cash advance balance by the periodic rate by the number of days the cash advance has been held. Sum the purchase finance charges, cash advance finance charges, and any cash advance fees.
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Bad Debts expense is debited and Accounts Receivable is credited at the end of the period to recognize bad debts under the allowance method
a. True b. False Indicate whether the statement is true or false
When selecting within a range of outcome estimates for probable contingencies, the requirements of IFRS and GAAP, respectively, are to accrue what amount in the range? IFRS GAAP I. minimum minimum II. midpoint minimum III. minimum midpoint IV. midpoint midpoint
A) I B) II C) III D) IV
The salesperson promised the radio station manager that the new $30,000 computer system would be compatible with the equipment already used by the station. When the new computer system proved not to be compatible even after an additional $10,000 worth of new software, the station manager sued the salesperson and his company for:
A. violation of the Robinson-Patman Act. B. misrepresentation and breach of warranty. C. failure to adhere to the rules of full disclosure. D. violation of Title VII. E. misuse of relationship marketing.
Arnie posts online a note that "I have good pix of child & me" with a link to several pictures of minors engaged in sex. Arnie is charged with violating a statute that makes it a crime to distribute material intended to make others believe it is child pornography. He argues that the statute is unconstitutional. The court is most likely to hold that the statute is
A. unconstitutional because it criminalizes speech. B. unconstitutional because it is overbroad. C. unconstitutional because it is impermissibly vague. D. valid because it does not prohibit a substantial amount of protected speech.