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2 years ago

Match the type of financial institution with the correct description of its activities

Business

1 answer:

TEA [102]2 years ago

6 0

Answer:

as I found, these are the options available to be matched.

Type of Financial Institution

Commercial Banks
Thrifts
Insurance companies
Mutual fund companies
Pension funds
Securities firms
Investment Banks

Description

JP Morgan Chase

savings and loan associations and credit unions that offer checking and savings accounts

offer policies where individuals pay a premium to insure against a loss of some kind

Fidelity, Vanguard

collect monthly payments from workers to buy stocks/funds with proceeds

Smith Barney, Charles Schwab

help corporations and governments raise money by selling stocks and bonds

Explanation:

Commercial Banks > JP Morgan Chase
Thrifts > savings and loan associations and credit unions that offer checking and savings accounts
Insurance companies > offer policies where individuals pay a premium to insure against a loss of some kind
Mutual fund companies > Fidelity, Vanguard
Pension funds > collect monthly payments from workers to buy stocks/funds with proceeds
Securities firms > Smith Barney, Charles Schwab
Investment Banks > help corporations and governments raise money by selling stocks and bonds

good luck!

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2 years ago

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2 years ago

Camden Corporations agreed to build a warehouse for a client at an agreed contract price of $ 900,000. Expected (and actual) cos

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Answer:

Key figures:

2016:

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2017:

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2018:

Revenue = $180,000

Expenses = $135,000

Income = $45,000

Explanation:

Under this method, percentage of work completed is determined using the following formula:

Percentage of work completed = (Total Expenses incurred on the project till the close of the accounting period) ÷ (Total Estimated Cost of the Contract)

Total estimated cost = $202,500 + $337,500 + $135,000 = $675,000

2016:

Percentage of work completed = ($202,500 ÷ $675,000)×100 = 30%

Expenses in 2016 = $202,500 (answer)

Revenue in 2016 = $900,000 × 30% = $270,000 (answer)

Income in 2016 = Revenue - Expenses

Income in 2016 = $270,000 - $202,500

Income in 2016 = $67,500 (answer)

2017:

Percentage of work completed = ($337,500 ÷ $675,000)×100 = 50%

Expenses in 2017 = $337,500 (answer)

Revenue in 2017 = $900,000 × 50% = $450,000 (answer)

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Expenses in 2018 = $135,000 (answer)

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Income in 2018 = $45,000 (answer)

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2 years ago

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