Which of the following is true of financial services provided by persons working in banks, insurance companies, and brokerage firms?
A. Persons working in banks, insurance companies, and brokerage firms help corporations to decide the types of securities to be issued to finance plant expansion.
B. Persons working in banks, insurance companies, and brokerage firms help individuals and companies determine how to invest money to achieve their financial goals.
C. Persons working in banks, insurance companies, and brokerage firms help corporations fulfill the regulations required by the Sarbanes-Oxley Act.
D. Persons working in banks, insurance companies, and brokerage firms help public corporations follow environment-friendly practices.
E. Persons working in banks, insurance companies, and brokerage firms help corporations in framing their bylaws.
Answer: B
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San Juan Minerals (SJM) has two service departments and two operating departments. Operating data for these departments for last year are as follows: Service DepartmentsOperating Departments MaintenanceCafeteriaMiningProcessingDepartmental costs$48,000$45,000$70,000$130,000Machine hours 2,000 1,000 11,000 9,000Number of employees 40 30 400 360 Costs of the Maintenance Department are allocated on the basis of machine hours. Cafeteria costs are allocated on the basis of number of employees. SJM does not distinguish between variable and fixed overhead costs. Assuming that SJM allocates service department costs using the direct method, the total cost allocated from Cafeteria to Mining would be closest to:
A. $22,500 B. $21,687 C. $15,750 D. $23,684
Agreements formed for an illegal purpose are ____________________
Fill in the blank(s) with correct word
______________________________is a command that allows additional attributes to be added to a relation in the future.
Fill in the blank(s) with the appropriate word(s).
A supplier to your firm offers credit terms of 2/15 net 45 however, your firm never takes advantage of the discount but instead always pays full price on day 45
Your finance intern claims that your firm would be better off borrowing money from an existing but little used line of credit at a current annualized rate of 8%, pay the firm providing credit at the end of the discount period (day 15 ) and to then repay the line of credit 30 days later on day 45. She argues that the cost to your firm would be lower than current practice. What is the effective cost to the firm of not utilizing the discount vs, the cost of borrowing money to take advantage of the discount? Please show your work and provide your answers in percentage terms.