Answer:
A.)
Switching from one product to the other, by deciding to stop travels to Germany and turn to Maldives, this shows limited resources which is as a result of scarcity.
B.)
Factors of producton include Land, Labor, Capital and Entrepreneur
Capital : Includes machineries and equipment used in business. According to the passage, capital. Include is Aircarft.
Labor : Those who work for the travel company to ensure it performs
Entrepreneur : The owner or shareholders who put together land, labor and capital to make profit.
C.)
Economic goods refer to goods which are scarce and involves the principle of oppttuiyu cost. Economic goods are scarce in relation to its demand. Free good in the other hand aren't scare as they are natyrallyboccuribgb, abundant and accessible.
An example of free good is Sunshine.
E)
Opportunity cost is important in deciding which goods or product provides the best return based on on its investment or resources. This can be related to the travel company's switch from Germany to Maldives
Explanation:
Osmosis is the movement of ____ across a membrane.
a) food
b) energy
c) oxygen
d) water
Answer:
D) Water
Explanation:
Osmosis is movement of water across a membrane. In a two chambered system, water will move to area with high solute concentration if there is a semi-permeable chamber allowing it to get to the other side.
According to recent data, only 36 percent of Uber's current employees are women. How do you think this situation helped perpetuate a flawed corporate culture?
The situation that should help for a flawed corporate culture should be explained below:
The following information should be considered:
If we considered the business type where uber begins i.e. there is the lack of skilled & experienced professionals.The workforce should have a less rating.There is non-fair treatment like sexual harassment.Therefore we can conclude that the 36% of the present employees of uber that contains women perpetuates a flawed corporate culture.
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Memphis Company anticipates total sales for April, May, and June of $910,000, $1,010,000, and $1,060,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 40% are collected in the same month as the sale, 55% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from credit sales during the month of June.
A. $925,600.
B. $687,200.
C. $723,600.
D. $995,600.
E. $783,600.
Answer:
E. $783,600.
Explanation:
The computation of the amount of cash received from credit sales is shown below
Months Credit sales(80%)
April 728000
May 808000
June 848000
Now the amount of cash received is
= ($848,000 × 0.4) + ($808,000 × 0.55)
= $783,600
Bạn phải gửi 1 số tiền vào NH là bao nhiêu nếu sau 7 năm nữa bạn sẽ nhận được 50000$ (cho biết lãi suất NH là 10%/1năm).
Answer:
Hiệu trưởng, P = $71428.57
Explanation:
Cho các dữ liệu sau đây;
Thời gian = 7
năm Lãi suất = 10%
Lãi suất đơn giản = $50,000
đô la Để tìm số tiền gốc;
Về mặt toán học, lãi đơn giản được tính bằng công thức này;
[tex] S.I = \frac {PRT}{100} [/tex]
Ở đâu;
S.I là lãi suất đơn giản. P là hiệu trưởng. R là lãi suất. T là thời gian.Thay vào công thức, ta có;
[tex] 50000 = \frac {P*10*7}{100} [/tex]
[tex] 50000 = \frac {70P}{100} [/tex]
Cross-multiplying, we have;
[tex] 50000 * 100 = 70P [/tex]
[tex] 5000000 = 70P [/tex]
[tex] P = \frac {5000000}{70} [/tex]
Hiệu trưởng, P = $71428.57
A questionnaire on the negative impact of the coronavirus as one of the socio economic issues of the business
Answer:
From my understanding,I don't think so
Explanation:
because of the coronavirus from where I'm living those that are selling face mask and hand sanitizer are benefiting more from it than others
"In the summer 2012 the lobster catch in Maine was especially large, but instead of celebrating the fisherman were suffering from a lower total revenue. (Source: New York Times, July 28, 2012) We learn from the article that despite the larger quantity of lobster caught, the total revenue of the fisherman decreased. This fact means that the demand for lobster is"
Answer:
Inelastic
Explanation:
The inelastic demand means the demand of the product does not vary when there is much change in the price. Let us assume that if the price is increased by 20% so the demand decreased only by 1% so here we can said there is inelastic demand
Also due to increased in the supply, the demand does not increased that much. So if the price is decreased so the demand does not respond due to which the total revenue comes down
So as per the given situation, having the large quantity caught the revenue is decreased so here the demand should be considered inelastic
Les Stoker, a broker who practices nonexclusive single agency, has a client who is determined to buy one of Stoker's in-house listings. Stoker explained the situation to the client, who agreed to go ahead with the transaction as an unrepresented customer. At lunch, the buyer talked with Stoker about the challenges his family business was having and his wife's upcoming legal case. This information indicated to Stoker that the customer was in a weaker negotiating position than he thought. Because Stoker obtained this information after terminating the agency with the buyer, can he share it with the seller
Answer: No.
Explanation:
Even though Stoker obtained this information after terminating the agency with the buyer, he cannot share it with the seller as in this case, it seems that the full effect of the changed relationship isn't understood by the buyer-customer.
It's essential for the broker to make sure that certain the former client understands the meaning of the situation at hand.
Racing Horse Corporation reported net income for 2010 of $200,000, sales of $540,000, expenses (excluding depreciation) of $180,000, and depreciation expense of $60,000. The company's accounts receivable balance increased by $40,000 during the year and its accounts payable balance remained the same. What is the estimated change in cash for the year ?
Answer:
Estimated change in cash = $220,000
Explanation:
GIven:
Net income = $200,000
Sales = $540,000
Expenses = $180,000
Depreciation expenses = $60,000
Accounts receivable balance increased = $40,000
Find:
Estimated change in cash
Computation:
Estimated change in cash = Net income + Depreciation expense - Accounts receivable balance increased
Estimated change in cash = 200,000 + 60,000 - 40,000
Estimated change in cash = $220,000
Question 5 :Sharon has been directed to put together a disaster recovery plan based on directives from her company's executive management team. The company's core business is operating an e-commerce website selling winter apparel with 85 percent of its revenue received during the holiday season. If there was a prolonged outage, it would put the company's ability to continue as a financially viable operation in peril. Sharon has been instructed to create a plan that will restore operations in the shortest amount of time possible. Which disaster recovery model should she implement
Answer:
Hot site
Explanation:
A disaster recovery model or plan
This is simply regarded as different documented procedures and plans ut together simply aim on how to react and handle an emergency or disaster scenario, usually from the operational perspective.
This entails or covers things that should be done before, during and after a disaster. It aim is to reduce or eradicate disruption to business and IT operations and this can be done by keeping downtime of systems to a minimum and preventing important data loss.
Preventative measures
This is simply regarded as any methods, procedures or systems used or put in place that will efficiently reduce drastically the impact of a disaster. It includes also anything that is to be done before an actual disaster that can minimize the overall downtime of the event.
Alternative processing facilities includes
1. Cold site
2. Hot site
Hot Site
This is actually refered to as an off-site location, equipped to take over the company's data processing. The Backup copies of essential data files and programs can be maintained at the location or a nearby data storage facility. In the event of a disaster, the organization's personnel do shipped to the disaster recovery facility to load the backup data onto the standby equipment.
Clara is the chief operating officer of a cosmetics manufacturing company. She gets opportunities to attend the board meetings of her vendor companies. These meetings give her a fresh perspective about how other companies frame their strategies and how procurement and operations are managed in different companies. In the context of managerial roles, which of the following roles does Clara illustrate in this scenario?
A) The leader role
B) The liaison role
C) The disseminator role
D) The figurehead role
Answer:
B) The liaison role
Explanation:
From the question we are informed about Clara is the chief operating officer of a cosmetics manufacturing company. She gets opportunities to attend the board meetings of her vendor companies. These meetings give her a fresh perspective about how other companies frame their strategies and how procurement and operations are managed in different companies. In the context of managerial roles, In this case, Clara illustrate liaison role.
liaison officer can be regarded as person that stand or liaises in between two firms/organizations in order to communicate as well as coordinate their activities through serving as an official go-between as regards senior officials of both firms. The liaison role is also expected to be an active role as regards liaison organization, attending their key meetings is necessary
provide a term for the statement: "when businesses produce goods and services that consumers do not want"
Answer:
Productive or technical inefficiency.
Explanation:
Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.
In Economics, there are two types of inefficiency associated with the production of goods and services, these includes;
1. Allocative inefficiency: it occurs when businesses do not maximise output from the given inputs. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.
In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.
2. Technical or productive inefficiency: it occurs when businesses produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.
Hence, productive or technical inefficiency is a term for the statement: "when businesses produce goods and services that consumers do not want."
Transaction costs are best defined as the
a. various costs of different goods and services.
b. costs involved in borrowing money from someone, that is, the interest that must be paid for the use of someone else's money.
c.costs associated with the time and effort necessary to make an exchange.
d. cost of one good in terms of another, that is, the price of apples in terms of oranges
Answer:
Costs associated with the time and effort necessary to make an exchange.
Explanation:
Transaction cost includes the expenses that have been done for buying a good or service. On checking the different provided options, the correct option will be "c.costs associated with the time and effort necessary to make an exchange."
An organization that provides services or goods to consumers and needs to make a profit is a Response area.
Answer:
Business (for profit organization).
Explanation:
A business (for profit organization) can be defined as a type of organization that is created to primarily generate more revenue than its operating costs by providing lawful and legitimate services to customers. By generating more revenue than operating costs, a business (for profit organization) is able to make profit.
Some examples of business (for profit organization) are privately owned establishments such as hospitals, hotels, restaurants, supermarkets, gas stations, etc.
Hence, an organization that is saddled with the responsibility of providing goods or services to consumers at a given price because it needs to make a profit is a business (for profit organization).
ABCD Company Limited has been operating for the past 10 years. Due to growth and to increase in their digital marketing, they have decided to create a new position for Digital Marketing Officer. i. State and explain the HR activity that is required by ABCD Company Ltd at this stage?
Answer:
ABCD Corporation Limited has chosen to hire a fresh Digital Marketing Manager. The HR staff will first establish a job after which the request will be forwarded to the corporation's finance division. If the finance division approves the plan, the HR section will establish a job post. We'll write the job requirements that's required.
They'll promote the position both physically as well as internet and she'll be asked to apply. The job advertising will include a comprehensive job description as well as a summary of the perfect applicant for the firm. When the firm obtains a sufficient number of applicants, it will begin with a practical exam and discussions.
A farm machinery salesperson has spent the last three weeks gathering information about a prospective customer. He has researched the customer's existing machinery and buying potential. However, he delays the actual meeting with the customer because he feels that he requires a couple of weeks more to gather enough information to make the sales call. In this scenario, the salesperson is experiencing a(n):
Answer: phenomenon called analysis paralysis.
Explanation:
Analysis paralysis occurs when an individual overanalyzes or over-thinks a situation which then brings about inability to make decisions.
In this case, since the salesperson delays the actual meeting with the customer because he feels that he requires a couple of weeks more to gather enough information to make the sales call despite gathering enough information, this is an analysis paralysis.
Calculate the simple interest on a loan of $9000 at an interest rate of 8% for 6 years?
Answer:
$4,320
Explanation:
Covert 8% to a decimal, in this case is 0.08. Then multiply all three values together.
9000 * 0.08 * 6 = 4320
Required solution :
Here we have been provided with the principal, rate of interest and the time period for which the loan was taken.
Principal = $9000Rate = 8% Time = 6 yearsNow, we know that simple Interest is calculated by the formula :
[tex]\boxed{\sf{S.I. \: = \: \frac{P \times R \times T }{100} }} \: \red\bigstar[/tex]Here in this formula,
S.I. is simple Interest R is rate of interest T is Time P is PrincipalPutting all the values in the formula,
[tex]: \: \implies \: \sf{S.I. \: = \: \dfrac{9000 \times 8 \times 6 }{100} }[/tex]
[tex]: \: \implies \: \sf{S.I. \: = \: \dfrac{900 \times 8 \times 6 }{10} }[/tex]
[tex]: \: \implies \: \sf{S.I. \: = \: \dfrac{90 \times 8 \times 6 }{1} }[/tex]
[tex]: \: \implies \: \sf{S.I. \: = \: 90 \: \times \: 8 \: \times 6 } [/tex]
[tex]: \: \implies \: \sf{S.I. \: = \: 90 \: \times \: 48 } [/tex]
[tex]: \: \implies \: \underline{\underline \red{\sf{S.I. \: = \: 4320}}}[/tex]
[tex]\underline{ \bf{Henceforth, \: simple \: interest \: on \: that \: loan \: is \: 4320 \: dollars}}[/tex]
Which of the following examples describes a retailer adding value in a
channel by offering information about products?
A. An office-supply store keeps cartons of paper safely stored on
shelves where they will stay clean and dry.
B. A supermarket is open 20 hours a day and offers a wide variety of
goods.
O C. In a bicycle shop, salespeople help shoppers choose the right
frame size and handlebar position for a comfortable ride.
D. Buyers for a home-electronics retailer keep up-to-date on
technology so they can offer their customers the latest gadgets.
Answer:
In a bicycle shop, salespeople help shoppers choose the right frame size and handlebar position for a comfortable ride.
Explanation:
The example that demonstrates a merchant adding value in a channel by providing product information is In a bicycle store, salespeople assist customers in selecting the proper frame size and handlebar position for a pleasant ride. Thus, option (C) is correct.
What is retailer?Retailer refers to the person who acts as the middlemen between the customers and wholesaler. He is the one who provides the product to the ultimate users. He earns the minimal profits and acts as a distributor.
The following is an illustration of a merchant offering benefit in a route by giving information about the product. In a bicycle shop, salespeople help customers choose the right frames and handle placement for a comfortable ride.
Therefore, it can be concluded that option (C) is correct.
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#SPJ5
Noise pollution has been insereted as pollution in the air act in, (a) 1981 (b)1987 (c)1982 (d)2000
Answer:A
Explanation:Noise though not defined in any statute but it is included as environmental pollutants in Section (a) of the Air Act 1981. After this included noise is recognized as a kind of air pollution and steps are taken to control it efficiently.
20 air conditioning units for use in the international space station operated for 1,000 hours One failed after 200 hours and one after 600 hours
Answer:
.0153 failure/trip
Explanation:
Calculation to determine the Failure rate (FR)
First step is to calculate the FR(%)
FR(%)=2/20 (100%)
FR(%)=10%
Second step is to calculate the FR(N)
FR(N)= Failure/unit hr=2/[(20*1,000hrs)-(1,000 hrs+200 hrs)]
FR(N)= Failure/unit hr=2/20,000 - 1,200
FR(N)= Failure/unit hr=2/18,800
FR(N)= Failure/unit hr=000106
Now let determine the FR
FR = (.000106)(24hrs )(6 days/trip)
FR = .0153 failure/trip
Therefore the Failure rate (FR) is .0153 failure/trip
You purchased a call option for $3.45 17 days ago. The call has a strike price of $45, and the stock is now trading for $51. If you exercise the call today, what will be your holding-period return? If you do not exercise the call today and it expires, what will be your holding-period return?
Answer:
73.9%;-100%
Explanation:
1. Calculation to determine what will be your holding period return If you exercise the call today
First step is to determine the Forest profit
If the call is exercised
Gross profit =$51 - 45
Gross profit= $6
Second step is to calculate the Net profit
Net profit =$6 -$3.45
Net profit = $2.55.
Now let calculate The holding period return Holding period return=$2.55/$3.45
Holding period return = .739 *100
Holding period return=73.9%
Therefore If you exercise the call today, what will be your holding-period return will be 73.8%
2. Calculation to determine what will be your holding period return If you do not exercise the call today and it expires,
Holding period return= ($0 -$3.45)/$3.45
Holding period return=-$3.45/$3.45
Holding period return = -1.00*100
Holding period return= -100%
Therefore If you do not exercise the call today and it expires, what will be your holding period return will be -100%
Using the rule of 72, t = StartFraction 72 Over r EndFraction, how long will it take for the principal to double with an annual compound interest rate of 6%?
Answer:
12 years
Explanation:
Given
[tex]t = \frac{72}{r}[/tex]
Required
How long will interest rate of [tex]6\%[/tex] double
We have:
[tex]t = \frac{72}{r}[/tex]
Substitute 6 for r
[tex]t = \frac{72}{6}[/tex]
[tex]t = 12[/tex]
Astro Corporation was started with the issue of 4,800 shares of $9 par stock for cash on January 1, 2018. The stock was issued at a market price of $17 per share. During 2018, the company earned $72,550 in cash revenues and paid $48,609 for cash expenses. Also, a $3,400 cash dividend was paid to the stockholders. Required: Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's 2018 fiscal year.
Answer:
Astro Corporation
1. Income Statement for the year ended December 31, 2018
Revenue $72,550
Expenses (48,609)
Net income $23,941
Dividend 3,400
Retained E. $20,541
2. Statement of Changes in Stockholders' Equity as of December 31, 2018
Common Stock $43,200
Additional Paid-in Capital 38,400
Retained earnings 20,541
Equity $102,141
3. Balance Sheet as of December 31, 2018
Assets:
Cash $102,141
Equity $102,141
4. Statement of Cash Flows for the year ended December 31, 2018
Operating Activities:
Net income $23,941
Investing Activities:
Financing Activities:
Issue of shares $81,600
Dividends (3,400)
Net cash $78,200
Net Cash Flows $102,141
Explanation:
a) Data and Analysis:
January 1, 2018: Cash $81,600 Common Stock $43,200 Additional Paid-in Capital $38,400
Cash $72,550 Revenue $72,550
Expenses $48,609 Cash $48,609
Dividend $3,400 Cash $3,400
A principal purpose of the Securities Exchange Act of 1934 is generally considered to be:
[A] To establish specific statutory standards for contractual agreements between those corporations issuing bonds and the representatives of investors who own the bonds.
[B] To protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.
[C] To reimburse customers of failed broker/dealers.
[D] To establish standards to govern activities of those organizations which engage in the business of providing securities investment advice.
Answer:
[B] To protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.
Explanation:
A stockbroker refers to an individual who is saddled with the responsibility of buying and selling stocks (shares) on a stock exchange market on behalf of his or her clients.
Generally, a broker acts as an intermediary between a buyer (investor) and a seller (securities exchange) for a commission or an agreed upon fee after executing the deal. Thus, a broker also referred to as a stockbroker acts as a principal party in the buying or selling of stocks or securities in the financial markets.
Additionally, the actions or activities of a broker in the financial market is regulated by regulatory (financial) institutions such as the securities and exchange commission (SEC).
The SEC, an acronym for Securities and Exchange Commission was created under the Securities Exchange Act of 1934. The Act empowered the SEC to require registration of securities, security exchanges, and reporting by publicly owned firms.
Hence, a principal purpose of the Securities Exchange Act of 1934 is generally considered to be to protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.
Answer:
[B] To protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.
Explanation:
A principal purpose of the Securities Exchange Act of 1934 is generally considered to be: To protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.
Among those not working, the most recent job-search activity for 2.90 million happened less than two weeks ago, while 1.72 million most recently looked for work between two and four weeks ago. An additional 0.86 million most recently looked for work five weeks ago, and the remaining 10.99 million who do not have jobs have not looked for work in the past six weeks. Round your answers to two decimal places.
Answer:
A. 24.05
B. 4.62
C. 66.99%
D. 19.21%
Explanation:
A). Calculation to determine the Laborland's total labor force
Using this formula
Total Labor Force = Employed + Unemployed
Let plug in the formula
Total Labor Force = (4.9+ 14.53) + (2.9 + 1.72)
Total Labor Force = 19.43 + 4.62
Total Labor Force = 24.05
Therefore the Laborland's total labor force is 24.05
(B). Calculation to determine the Laborland's labor force participation rate
Unemployed = 2.90 + 1.72
Unemployed = 4.62
Therefore the Laborland's labor force participation rate is 4.62
(C). Calculation to determine How many people are unemployed in Laborland
Using this formula
Labor force participation rate = Labor force / Total working age population
Let plug in the formula
Labor force participation rate= $24.05 / 35.9
Labor force participation rate= 66.99%
Therefore How many people are unemployed in Laborland will be 66.99%
(D). Calculation to determine Laborland's unemployment rate
Using this formula
Unemployment Rate = Unemployed / Labor force
Let plug in the formula
Unemployment Rate = 4.62 / 24.05
Unemployment Rate= 0.1921 * 100
Unemployment Rate= 19.21%
Therefore Laborland's unemployment rate is 19.21%
which of the following activities is an example of gethering datd by observation
Complete Question:
Which of the following activities is an example of gathering data by observation.
Group of answer choices.
A. Using a database to look up the number of products returned each
week.
B. Conducting a survey of people who took a training course.
C. Reading product features in several suppliers’ online catalogs.
D. Measuring how many parts workers assemble in an hour.
Answer:
D. Measuring how many parts workers assemble in an hour.
Explanation:
An observational study can be defined as a type of study in which a researcher observes and measures the effect of a diagnostic test, risk factors, or treatments on individuals without intervening, changing or manipulating who are or aren't exposed to it (controlled conditions).
Basically, observation is a research method that involves examining a given population in order to gather certain informations about them. Thus, it is typically aimed at observing the activities that are being performed by a population of interest.
Hence, measuring how many parts workers assemble in an hour would be considered to be an example of gathering data by observation because you would have to monitor and keep an eye on the workers as they perform their jobs.
Answer:
Measuring how many parts workers assemble in an hour
Explanation:
substance secreted by the liver to emulsify fats
Answer:
bile juice
Explanation:
reckon it's bile juice
The following transactions occurred last year at Jogger Corporation: Issuance of shares of the company's own common stock $ 110,000 Dividends paid to the company's own shareholders $ 3,000 Sale of long-term investment $ 4,000 Interest paid to lenders $ 8,000 Retirement of the company's own bonds payable $ 100,000 Proceeds from sale of the company's used equipment $ 29,000 Purchase of new equipment $ 170,000 Based solely on the above information, the net cash provided by (used in) financing activities for the year on the statement of cash flows would be: Multiple Choice $(138,000) $7,000 $424,000 $(1,000)
Answer:
b. $7,000
Explanation:
Statement of Cash-flow from Financing activities
Particulars Amount
Issue common Stock $110,000
Dividend paid -$3,000
Retirement of bonds payable -$100,000
Net cash flow from financing activities $7,000
\Glenn and Maggie own a regional chain of juice bars and are looking to expand in the coming year. They already have fifty shops, but they know they will need a loan to reach their goal of one hundred twenty five shops. Which type of banking institution is most suitable for Glenn and Maggie’s business?
a credit union
a savings and loan
a commercial bank
an investment bank
Answer:
a commercial bank
Explanation:
A loan can be defined as an amount of money that is being borrowed from a lender and it is expected to be paid back at an agreed date with interest.
Generally, a financial institution such as a commercial bank lending out the sum of money would request that the borrower provides a collateral, which would be taken over in the event that the borrower defaults (fails) in the repayment of the loan.
In this scenario, Glenn and Maggie need a loan to reach their goal of one hundred twenty five shops.
Hence, the type of banking institution which is most suitable for Glenn and Maggie’s business is a commercial bank.
Business banking can be defined as the financial services such as business loans, cash management, lines of credit, trade finance, savings and checking accounts, tax planning, and securities trading provided by a commercial bank to business entities, corporations or companies.
In conclusion, a business bank such as a commercial bank is only focused on providing financial services to big businesses or corporations rather than individuals.
A commercial bank is the type of banking institution best suited for Glenn and Maggie's business, as it is an institution capable of providing adequate financial services for the expansion strategy of their juice bar chain.
What are the functions of a commercial bank?It provides several financial services to companies capable of managing investments such as long-term deposit funds, in addition to offering current accounts and loans essential for the flow of business.
Therefore, a commercial bank can help Glenn and Maggie achieve their expansion strategy through financial assistance and investment management so that the business achieves economic stability and market positioning.
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write any five higher level profession
Answer:
Computer programming(NASA)
Physician
Statistics
Data scientist
Physiology
All of the following are true of custodial accounts, except: Group of answer choices custodial accounts represent a way parents can indefinitely control children. minors can set up custodial accounts with a parent. minors can set up custodial accounts with an older relative or friend. custodians can withdraw money from a custodial account for the benefit of the minor.
Answer:
custodial accounts represent a way parents can indefinitely control children
Explanation:
A custodial account is a financial account like the bank account, the trust fund or the brokerage account that could be set up for the beneficiary benefit and it is held by the responsible person who we called as the legal guardian
So as per the given situation, the above statement should be considered as it does not represent the way in which the parents could have the indefinite control with their children
Therefore the same is to be relevant
The incorrect statement related to the custodial accounts is " custodial accounts represent a way parents can indefinitely control children.
What are custodial accounts?The custodial accounts can be defined as the accounts that are managed by a legal person or a guardian for the benefit of the beneficiary. The person who administer the account has an fiduciary obligation towards the beneficiary.
The minors can set a custodial account with their parents or any of the elder relative or friend. The Guardian can withdraw money from the custodial account for the benefit of the beneficiary or minor.
Therefore the correct option is a.
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