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Social Science
Economics
Finance
Savings, Investing, and Risk Management
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Gravity
Terms in this set (17)
Bond
An IOU issued by a company, municipality, or the federal government in exchange for a loan from an investor that will be repaid with a set rate of return.
Financial Institution
A business that provides money-related services.
Interest
A fee received or paid for the use of money.
Invest
To commit money to gain a profit or earn interest.
Mutual Fund
A collection of stocks or bonds of various corporations.
Opportunity Cost
The next best alternative given up when making a financial choice.
Pay Yourself First
To automatically save a specified amount from a paycheck for future use.
Principal
The amount of money originally invested.
Risk
The possibility of financial loss or physical harm.
Savings account
An interest-bearing account where people put money for future use.
Stock
A share of a corporation sold to the public.
Loan
A sum of money that is borrowed and expected to be paid back with interest.
Compound interest
Interest on the principal and the accumulated interest on a deposit or a loan.
Simple interest
Interest that is paid only on the original principal.
Insurance Policy
A contract that outlines coverage plans and protects a person against financial loss or damage.
Premium
The amount paid for an insurance policy.
Deductible
Money paid out of pocket before insurance covers the remaining cost.
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Verified questions
ACCOUNTING
The Deli-Sub Shop owns and operates six stores in and around Minneapolis. You are given the following corporate budget data for next year: Variable costs change based on the number of subs sold. Compute the budgeted operating income for each of the following deviations from the original budget data. (Consider each case independently.) Required: 1. A 10% increase in contribution margin, holding revenues constant 2. A 10% decrease in contribution margin, holding revenues constant 3. A 5% increase in fixed costs 4. A 5% decrease in fixed costs 5. A 5% increase in units sold 6. A 5% decrease in units sold 7. A 10% increase in fixed costs and a 10% increase in units sold 8. A 5% increase in fixed costs and a 5% decrease in variable costs 9. Which of these alternatives yields the highest budgeted operating income? Explain why this is the case. $$ \begin{matrix} \text{Revenues} & \text{\$ 11.000.000}\\ \text{Fixed costs} & \text{\$ 3.000.000}\\ \text{Variable costs} & \text{\$ 7.500.000}\\ \end{matrix} $$
ACCOUNTING
The Accumulated Earnings column of the employee earnings record a. shows net pay for the year. b. is the total earnings since the first of the year. c. shows net pay for one quarter. d. is the gross earnings for one quarter.
ACCOUNTING
a. Explain how direct deposit of earnings works. b. How does an employee who receives a payroll check know how the amount of net pay was determined?
ACCOUNTING
Set up the following T-accounts: Cash, Accounts Receivable, Office Supplies, Office Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Salary Expense, and Rent Expense. Record the following transactions directly in the T-accounts without using a journal. Use the letters to identify the transactions. a. Lynn Dover opened a law firm by investing $12,500 cash and office furniture valued at$9,400. Organized as a professional corporation, the business issued common stock to Dover. b. Paid monthly rent of $1,100. c. Purchased office supplies on account,$900. d. Paid employees’ salaries of $1,600. e. Paid$500 of the account payable created in Transaction c. f. Performed legal service on account, $8,000. g. Declared and paid dividends of$2,200.
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