Elaborate upon the four common concerns that should guide all financial plans

What will be an ideal response?


Answer: Your financial plan should be flexible enough to respond to changes in your life and unexpected events. Planning must allow some funds to be liquid to allow access to money when you need it quickly. Plan for protecting your assets and yourself with adequate insurance. Finally, your financial plan should take taxes into account to pay as little as legally possible.

Business

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Luminous Electrical, Inc. performed services of $8,000 on January 24 and invoiced the customer. Luminous received the $8,000 on January 31. Provide the journal entry on January 24 when services were performed. (Ignore explanation.)

What will be an ideal response

Business

Which of the following is true of net sales revenue?

A) It is calculated by subtracting cost of goods sold from sales. B) It is calculated by adding sales discounts to sales. C) It is calculated by adding sales discounts and sales returns and allowances to sales. D) It is calculated by deducting sales discounts and sales returns and allowances from sales.

Business

Describe the differences between corporate culture and national culture.

What will be an ideal response?

Business

Your great-aunt wants to help with your college graduation party. She has just placed $5,000 dollars in a bank account that will earn an annual rate of return of 6%. If you graduate in four years, how much will be in your party account?

A) $7,120.89 B) $6,142.96 C) $5,960.47 D) $6,312.38

Business