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Continuing Education Business Questions

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Continuing Education Business Technology
This is a binding agreement between two people and is enforceable by law. This document is known as,             A Contract             
Continuing Education Business Technology
When giving a price for a proposed piece of work,a                Scope Letter                is usually included to clarify what is included and excluded in the price.
Continuing Education Accounting
An asset purchased ten years ago for $100,000 has accumulated
depreciation of $100,000 at the end of its tenth year. What amount
should be charged to depreciation if the asset is used in its eleventh
year?
  1. 9090
  2. 1000
  3. 0
  4. 10000
Continuing Education Business Technology
certificate of deposit
  1. savings plan requiring that a certain amount be left on deposit for a stated time period
  2. mutual savings financial institution
  3. financial institution that specializes in savings accounts ad mortgage loans
  4. depositable savings account
Continuing Education Business Technology
money market fund
  1. user-owned nonprofit financial institution offered by investment companies with earnings based on investments
  2. financial institution that offers a full range of financial services
  3. savings-investment plan offered by investment companies
  4. non profit banking institution
Continuing Education Business Technology
overdraft protection
  1. savings plan requiring that a certain amount be left on deposit for a stated time period
  2. automatic loan made to checking account to cover insufficient funds
  3. computer terminal used to conduct banking transactions
  4. financial institution that is owned by depositors and specializes in savings accounts
Continuing Education Business Technology
automatic teller machine
  1. all-in-one accout that includes checking, savings, borrowing and investing
  2. direct deposit made to an account
  3. computer terminal used to conduct banking transactions
  4. assets
Continuing Education Business Technology
annual percentage yield
  1. process that calculates interest based on previously owned interest
  2. percentage of increase in the value of savings as a result of interest earned
  3. money market interest
  4. percentage rate expressing the total amount of interest that would be received on a deposit based on the annual percentage rate
Continuing Education Business Technology
compounding
  1. process that calculates interest based on previously owned interest
  2. caps out at 10% interest
  3. annual percentage rate
  4. percentage of interest on savings
Continuing Education Business Technology
credit union
  1. user-owned nonprofit financial institution offered by investment companies with earnings based on investments
  2. financial institution that offers a full range of financial services
  3. financial institution that specializes in savings accounts ad mortgage loans
  4. assets put into savings
Continuing Education Business Technology
rate of return
  1. compounding interest
  2. percentage of increase in the value of savings as a result of interest earned
  3. exempt from state or local taxes
  4. amount of interest accrued on a savings account
Continuing Education Business Technology
mutual savings bank
  1. mortgage bank only
  2. user owned financial institution
  3. investment and stock bank only
  4. financial institution that is owned by depositors and specializes in savings accounts
Continuing Education Business Technology
money market account
  1. checking account
  2. guaranteed rate of return
  3. ease of withdrawal
  4. savings account offered by banks, savings and loan associations; earnings based on market interest rates
Continuing Education Business Technology
savings and loan association
  1. institution that does not allow direct deposit
  2. mutual savings financial institution
  3. financial institution that specializes in savings accounts ad mortgage loans
  4. bank or credit union
Continuing Education Business Technology
commercial bank
  1. non profit financial institution
  2. financial institution that offers a full range of financial services
  3. savings plan that requires a minimum balance
  4. money market fund
Continuing Education Business Technology
account management account
  1. all-in-one accout that includes checking, savings, borrowing and investing
  2. legal agreement that provides for control of assets
  3. return on savings
  4. bank or credit union
Continuing Education Accounting
Checks written by a company but not yet clearing its bank checking
account are referred to as               outstanding              checks.
Continuing Education Accounting
Under accrual accounting, amounts received in advance of providing
a service should be reported as
  1. A liability
  2. Revenue
  3. Not reported
Continuing Education Accounting
When a purchase is made on credit, Accounts           Payable          is
credited.
Continuing Education Accounting
Accruing wages expense as of December 31 has what effect on the
December 31 balance sheet?
  1. Assets decrease
  2. Liabilities increase
  3. Owner's equity increases
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