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Business Accounting and Bookkeeping

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Clarissa Nitzsche

Lvl 9
โˆ™ 2021-11-08 19:35:44
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Cards in this guide (32)
What is an EFT

Electronic Fund Transfer

What does reconcile a bank statement mean

103.52

What are the steps necessary to reconcile a bank statement

ending balance + outstanding deposits - outstanding check = balance

What institution insures individual banking accounts

minimum check-writing fee

How can you tell if an Internet site is secure

A padlock symbol appears on the page.
Internet security is a matter of great concern for internet users. It is important to know if a website is secure or not while surfing the internet.

What type of financial institution do most people deal with

commercial banks...

Which of these is the best description of fixed expenses

the budget items that do not vary from month to month.

This is Paula's monthly budget What percent of her expenses is spent on insurance

20Given Paula's monthly budget, the percentage of expenses spent on insurance can be determined by subtracting all the other expenses from the monthly budget, which leaves you with the anoint spent on insurance.

Calculate the simple interest you would receive in five years on a savings account that earns 7.5 percent annual interest What if your beginning balance is 1236.59

463.72

Dustin had five outstanding checks that totaled 117.54 What should his check register balance be if he had an ending balance of 599.43 and outstanding deposits that totaled 235.14

717.03

Sherry had an ending balance of 125.36 outstanding deposits of 153.53 and outstanding checks of 100.19 What was her checkbook balance

178.70

Kenneth is having a terrible time balancing his checkbook He had outstanding checks that totaled 323.14 an ending balance of 232.54 and outstanding deposits of 125.98 His checkbook register bal

Outstanding Checks = $323.14

Current Bank Balance = $232.54

Outstanding Deposits = $125.98

Final Balance = Current balance + Outstanding deposits - outstanding checks

= 232.54 + 125.95 - 323.14

= 35.35

The final balance on Kenneth's account will be $35.35

If Patty is taking out a simple interest loan to buy her new 10689 car How much would she pay in interest it the rate is 4.5 percent and she pays the loan off in 4 years

She will pay $1,924.02 in interest.

How much of the circle would be shaded for the total of housing food insurance and transportation

over 75

Which of these should represent the smallest portion of your budget

mis

Which of these is the correct formula for calculating interest on a loan

Interest = Rate x Principal x Time

Why does monetary policy more directly influence businesses and individuals than fiscal policy does

on A+: because of its effect on interest rates :))

What is the maximum amount Susan is willing to pay on rent

630

Which of these can occur when a person owes more money than he or she can earn or pay to creditors

Bankruptcy.

What does not belong in the miscellaneous category

Questions that can be categorized belong in the closest category for that subject. Other questions are harder to categorize and are in Miscellaneous until they are assigned a category.

What is the interest on a five year loan of 13950 at a 5.8 percent rate of interest

"4045.50"

What does automatically withdraws the amount of a purchase from the consumers checking account

debit card

Paula prepared the following budget how much discretionary income does Paula have each month

4

What allows consumers to pay for purchases at a later date

credit card

To ensure that you do not have a total consumption budget which two categories should be added to your budget

savings and miscellaneous

What describes discount loans

They require the interest to be paid first.

The Federal Reserve is comprised of how many nationwide districts

12

The fdic was created after the Great Depression with the passage of which act

glass-steagall act

Calculate the current balance on your checking account if the previous balance was 129.32. You wrote checks for 59.73 and 32.95 and later made a deposit of 754.23

790.87

When This is the monthly budget for the reed family. What percentage of expenses is spent on utilities

Divide the utility expense by the monthly budget. Multiply the result by 100.

What of these describes expenses

the amount of money you have spent

Which of these is an example of a variable expense

Utilities

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