If an individual can save $1,500 annually, how much will have been accumulated after 4 years if the funds earn 7 percent??
What will be an ideal response?
This problem is also an example of the future value of an annuity: $1,500(FVIF 7I, 4N) = $1,500(4.440) = $6,660?(PV = 0; N = 4; I = 7; PMT = -1500; FV = ?; FV = 6659.91.)?
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In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and
A. a modification should make the product more consistent with customers' desires. B. competing companies should not be aware of planned product modifications. C. a modification should change customers' desires to provide greater satisfaction. D. management must perceive the modification as a reasonable and necessary action. E. production costs and materials needed should be limited.
An appeal of an IRS decision against you on your tax return would be heard in: A) state court
B) tax court. C) Federal District Court. D) U.S. Court of Appeal.
Jakobs, Penn, and Lundt are partners with beginning-of-year capital balances of $400,000, $320,000, and $160,000, respectively. The partners agreed to share income and loss as follows: Salary of $30,000 to Jakobs, $50,000 to Penn, and $36,000 to Lundt. An interest allowance of 8% on beginning-of-year capital balances. Any remaining balance is to be divided equally. If partnership net income for the year is $190,000, determine each partner's share and make the appropriate journal entry to close the Income Summary to the capital accounts.
What will be an ideal response?
The entity integrity rule states that:
A) no primary key attribute can be null. B) referential integrity must be maintained across all entities. C) each entity must have a primary key. D) a primary key must have only one attribute.