The most significant difference between improving an existing process and designing a new process is that when designing a new process, there are a lot more unknowns.
Explanation:Improving an existing process involves making changes to a process that already exists in order to improve it. Designing a new process, on the other hand, involves creating a process from scratch.When designing a new process, there are a lot more unknowns because the process is entirely new, and there may be a lot of trial and error involved in getting it right. In contrast, when improving an existing process, there is already a baseline for how the process works, which makes it easier to identify areas for improvement and to track progress.
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The most significant difference between these two processes is that the process of designing a new process involves creating a process from scratch while improving an existing process involves making changes to an already established process. Hence option one is the answer.
Improving an existing process and designing a new process are two processes that are different. When designing a new process, there are a lot more unknowns. Designing a new process involves creating a process from scratch without any basis or existing process. In designing a new process, there are a lot of unknowns that must be dealt with. Improving an existing process involves making changes to an already established process that is no longer effective. When improving an existing process, there is a basis or a process to improve upon. The Voice of the Customer tools is relied upon heavily to provide information on areas that require improvement. Therefore, it can be concluded that the most significant difference between improving an existing process and designing a new process is that the process of designing a new process involves creating a process from scratch while improving an existing process involves making changes to an already established process.
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In what ways does financial planning impact trade
finance?
Financial planning plays a crucial role in trade finance by impacting various aspects of the trade process, including cash flow management, risk mitigation, and capital allocation. By effectively managing finances, businesses can optimize their trade activities, improve profitability, and enhance overall trade performance.
Cash Flow Management: Financial planning helps businesses manage their cash flow effectively, ensuring that sufficient funds are available to support trade activities. It involves forecasting cash inflows and outflows, identifying potential shortfalls or surpluses, and making strategic decisions to maintain a healthy cash flow. With proper cash flow management, businesses can meet their trade obligations promptly, pay suppliers on time, and seize opportunities for expansion.
Risk Mitigation: Trade finance involves inherent risks such as non-payment by buyers, currency fluctuations, political instability, and shipping delays. Financial planning helps businesses assess and mitigate these risks by utilizing appropriate financial instruments such as letters of credit, export credit insurance, and hedging strategies. By incorporating risk management into financial planning, businesses can safeguard their trade transactions and minimize potential losses.
Capital Allocation: Financial planning enables businesses to allocate their capital efficiently across different trade activities. It involves analyzing the profitability and liquidity of various trade opportunities, determining the optimal mix of funding sources, and allocating resources to maximize returns. By aligning financial resources with trade objectives, businesses can prioritize high-value trade activities, invest in new markets, or expand production capacity, thereby driving trade growth.
Financial planning has a profound impact on trade finance as it influences cash flow management, risk mitigation, and capital allocation. By effectively managing finances, businesses can optimize their trade operations, mitigate risks, and enhance profitability. It is essential for businesses engaged in international trade to integrate financial planning into their overall trade strategy to achieve sustainable growth and success.
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1. You deposit $5000 each year into an account earning 5% interest compounded annually. How much will you have in the account in 35 years?
$________
2. You deposit $400 each month into an account earning 7% interest compounded monthly.
a) How much will you have in the account in 20 years?
$______
b) How much total money will you put into the account?
$___________
c) How much total interest will you earn?
$_______________
3. You have $400,000 saved for retirement. Your account earns 7% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 25 years?
$___________
PLEASE HELP ME IM STRUGGLING IN THIS PLEASE I DON'T WANT TO FAIL. LAST PERSON ANSWERED WRONG PLEASE HELPPP THANK YOU
1. You deposit $5000 each year into an account earning 5% interest compounded annually. How much will you have in the account in 35 years?
The formula for calculating the future value of an annuity is:FV = PMT × (((1 + r)n - 1) / r), where:FV = Future Value of the AnnuityPMT = Amount Deposited each Yearr = Interest Rate Per Periodn = Number of PeriodsFor the given problem, the amount deposited each year (PMT) is $5000, the interest rate (r) is 5% and the number of periods (n) is 35.
We need to calculate the future value (FV) of the annuity.So, we get:FV = $5000 × (((1 + 0.05)35 - 1) / 0.05)FV = $5000 × (((3.386) / 0.05))FV = $5000 × 67.72FV = $338,581.74Therefore, the amount in the account after 35 years will be $338,581.74. 2.
You have $400,000 saved for retirement. Your account earns 7% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 25 years?To find out the amount you can withdraw each month, we can use the formula for Present Value of an Annuity, which is given as:PV = PMT x ((1 - (1 + r)-n) / r), where:PV = Present Value of Annuity
PMT = Amount of each paymentr = Interest rate per periodn = Number of periodsWe are given that the amount in the account is $400,000, the interest rate (r) is 7% and the number of periods (n) is 25 x 12 = 300 months. We need to calculate the amount that can be withdrawn each month (PMT).
So, we get:$400,000 = PMT x ((1 - (1 + 0.07)-300) / 0.07)Simplifying this equation gives:PMT = $400,000 / ((1 - (1 + 0.07)-300) / 0.07)PMT = $2,864.49Therefore, you will be able to withdraw $2,864.49 each month for 25 years.
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After a business designates categories of expense in its budget, it a: applies a formula. b: appoints an accountant. c: allocates a dollar amount. d: attaches a time limit.
Answer:
c: allocates a dollar amount.
Explanation:
Budget is a systematic accounting record of expected expenses & receipts of an entity, for a period of time.
Expenses categorization is an important stage of budget planning. After designating the expenses categories in budget, a business entity should - allocate a dollar amount to the total expenses & its further distribution within the categories.
Matthew is paid $14. 80 per hour. What is matthews time-and-a-half rate per hour
Matthews time-and-a-half rate per hour is $22.20.
Matthew's time-and-a-half rate per hour is calculated by taking his regular hourly rate and adding half of that rate to it.
So firstly we will divide the regular hourly rate by 2 and then add the half of it with the regular hourly rate and the amount obtained will be the Matthew's time-and-a-half rate per hour.
Matthew's regular hourly rate = $14.80
Half of Matthew's regular hourly rate = $14.80 / 2 = $7.40
Matthew's time-and-a-half rate per hour = $14.80 + $7.40 = $22.20
Therefore, Matthew's time-and-a-half rate per hour is $22.20.
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Which of the following jobs is expected to double in the next few years?
nurse
automobile mechanic
real estate salesperson
computer engineer
Answer:
real estate salesperson
Computer Engineer
I have to write at least 20 characters to post this.
A local bank’s advertising reads: "Give us $50,000 today, and we’ll pay you $800 every year forever." If you plan to live forever, what annual interest rate will you earn on your deposit?1.92%1.60%2.56%2.24%
Answer:
The correct response is Option b (1.60%).
Explanation:
According to the question,
Initial investment,
= $50,000
Perpetual annual cash flows,
= $800
Now,
The interest rate will be:
= \(\frac{Perpetual \ annul \ cash \ flows}{Initial \ investment}\)
On substituting the given values, we get
= \(\frac{800}{50,000}\)
= \(0.016\)
i.e.,
= \(1.60 \ percent\)
How long after refund is accepted will it be approved.
Answer:
I believe after 30 or 90 days
Strengths identified in a SWOT Analysis are new actions a business should implement.
Question 1 options:
True
False
The Strengths that a business identifies when it does a SWOT Analysis are not new actions to be implemented so this is False.
SWOT analysis help a company evaluate itself to know what it needs to do to improve past its competitors. It is an acronym that stands for:
Strengths - these are areas that a company already excels in. Weaknesses - these are areas a company needs to improve in Opportunities - these are potential events that can be leveraged on by a company to become successful Threats - these are anything that can affect a business in a negative manner such as competitor products or government regulationAs shown above, strengths are not a new action to implement but are rather areas and actions that a company is already well-versed at implementing.
In conclusion, it is false that strengths in a SWOT Analysis are new actions that should be implemented.
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when a fine caterer produces 30 catered meals, its marginal cost and average variable cost each equal
Answer:
ExplanatioWhen a fine caterer produces 30 catered meals, its marginal cost and average variable cost each equal $10. Therefore, assuming normally shaped cost curves, at 29 meals its marginal cost: is less than $10 and its average variable cost is more than $10
HELP!
50 percent of all work interactions involve some form of communication.
True
False
Answer:
i think the answer is true
Explanation:
8. A company with 750,000 shares outstanding that sell for $120 per share has announced a 3-for-5 reverse stock split. Assuming there are no market imperfections or tax effects, what will the stock sell for after the split?
The new stock price after the 3-for-5 reverse stock split is $200.
A reverse stock split is a reduction in the number of a company's shares outstanding that increases the par value of its stock. In a 3-for-5 reverse stock split, for every 5 shares outstanding, 3 new shares are issued. This means that the total number of shares outstanding is reduced, and the value of each share increases.
To calculate the new stock price after the reverse stock split, we can use the formula:
New stock price = (Old stock price * Old shares outstanding) / New shares outstanding
In this case, the old stock price is $120, the old shares outstanding is 750,000, and the new shares outstanding is (750,000 * 3) / 5 = 450,000.
So, the new stock price after the reverse stock split is:
New stock price = ($120 * 750,000) / 450,000 = $200
Therefore, after the 3-for-5 reverse stock split, the stock will sell for $200 per share.
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All of the following are tips experts recommend to job seekers using LinkedIn EXCEPT:
A. grow your network to connect with new people.
B. brand yourself as an expert in your career field.
C. don't be too presumptuous by showing how you can help a prospective employer.
D. make sure your profile is complete.
E. make sure your profile is current, even listing your present employer.
The correct answer is option c. All of the following are tips experts recommend to job seekers using LinkedIn EXCEPT: don't be too presumptuous by showing how you can help a prospective employer.
This can come across as pushy or overeager and may actually harm your chances of landing a job. Instead, it's important to focus on building relationships, showcasing your skills and experiences, and highlighting your qualifications in a professional and appropriate manner.
LinkedIn is a powerful tool for job seekers, offering a wealth of opportunities to connect with potential employers, showcase your skills and experiences, and build your professional network. However, it's important to use LinkedIn effectively in order to maximize its benefits.
Experts recommend several tips for job seekers using LinkedIn, including growing your network to connect with new people, branding yourself as an expert in your career field, and making sure your profile is complete and current, even listing your present employer.
Another important aspect of using LinkedIn is to regularly update your profile, including listing your current employer and highlighting any new skills, experiences, or qualifications. This will help keep your profile current and relevant, and increase your visibility to potential employers.
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Locate the treasury bond in figure 8. 5 maturing in may 2038. Assume a par value of $10,000. Is this a premium or a discount bond? multiple choice premium bond discount bond a. What is its current yield? (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e. G. , 32. 16. ) b. What is its yield to maturity? (do not round intermediate calculations and enter your answer as a percent rounded to 3 decimal places, e. G. , 32. 161. ) c. What is the bid-ask spread in dollars? (do not round intermediate calculations and round your answer to 2 decimal pla
premium bond as ytm is lower than coupon rate, 3.45% is the current yield, yield to maturity is the 2.59% and 6.25 is the bid-ask spread in dollars.
given data:
par value = $10,000
face value = 10000
coupon interest = 4.500%
bid price = 130.2656
asked price = 130.3281
YTM = 2.594%
current yield = coupon interest / asked price
= 4.5 / 130.3281
= 3.45%
Coupon rate refers to the annual interest rate paid on a fixed income security, such as a bond. It is the percentage of the bond's par value that the issuer agrees to pay to the bondholder annually, typically in two equal semi-annual payments. The coupon rate is determined by the issuer when the bond is first issued and remains fixed until maturity, regardless of changes in market interest rates. The coupon rate is used to calculate the bond's interest payments, which are based on the bond's face value or par value.
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2. A closer estimate of the total cost can be made by including the estimated sales tax. Use a formula to
calculate the estimated cost for July 2014 using 7% sales tax. Then, write the formula you used and the
estimated cost in the cell below. Hint: Convert 7% into a decimal for the formula. (5 points)
Answer:
=([Cost] * 1.07)
Explanation:
The question has missing details.
The complete question is to calculate write a Microsoft Excel formula that calculates the total cost which includes the sales tax
Assume that the table heading for estimated cost in July 2014 is Cost
The formula to calculated the total cost which includes the sales tax is:
=([Cost] * 1.07)
The above uses structured reference to make reference to the cost in July 2014.
To calculate the total which includes sales tax, we use:
\(Total = Cost * (1 + Sales\ Tax)\)
\(Total = Cost * (1 + 7\%)\)
Convert percentage to decimal
\(Total = Cost * (1 + 0.07)\)
\(Total = Cost * 1.07\)
Hence, the Excel equivalent is:
=([Cost] * 1.07)
Answer:
=([Cost] * 1.07)
Explanation:
The complete question is to calculate write a Microsoft Excel formula that calculates the total cost which includes the sales tax
Assume that the table heading for estimated cost in July 2014 is Cost
The formula to calculated the total cost which includes the sales tax is:
=([Cost] * 1.07)
The above uses structured reference to make reference to the cost in July 2014.
To calculate the total which includes sales tax, we use:
Total = Cost x ( 1 + Sales Tax )
Total = Cost x ( 1 + 7% )
Convert percentage to decimal
Total = cost x ( 1 + 0.07 )
Total = Cost x 1.07
Hence, the Excel equivalent is:
=([Cost] * 1.07)
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Allesandra would like to work in a school environment, and she knows that she would prefer a career in which she spends lots of work time walking around rather than sitting in an office. a. Elementary school teacher b. Administrative support worker c. Instructional designer d. High school principal
Answer:
a. Elementary school teacher
Explanation:
An elementary school teacher refers to an individual who is an educational professional and is typically saddled with the responsibility of developing and implementing lesson plans for students in the classroom.
Basically, an elementary school teacher educate students on vital subjects such as mathematics, english language, verbal studies, quantitative reasoning etc. which forms the foundation of a student's future career, observe, analyze and evaluate the performance of each pupil, coordinate all classroom activities, enforce school and classroom rules etc. All of the aforementioned responsibilities are executed or achieved by walking around the classroom to effectively and efficiently monitor and evaluate the pupils.
In this scenario, Allesandra would like to work in a school environment, and she knows that she would prefer a career in which she spends lots of work time walking around rather than sitting in an office.
Hence, the education career which would be the best option for Allesandra, is to work as an Elementary school teacher.
Answer:
a
Explanation:
my school teacher
Four people are applying for a job. This chart shows the company’s favorite characteristic of each of these job applicants:
The monetary value of what a firm received for goods sold, services rendered, and other payments is termed:.
Answer:
Revenue?
Explanation:
Revenue is the monetary worth of what a company receives for items sold, services given, and other payments.
What is the revenue?The total amount of income earned by the sale of goods or services connected to the company's principal operations is referred to as revenue. Because it appears at the top of the income statement, revenue, also known as gross sales, is sometimes referred to as the “top line.”
Revenue refers to the overall earnings generated by a company via its primary operations, such as product or service sales, property leases, recurring payments, interest on borrowings, and so on. It is also defined as monetary value of what a company receives in exchange for goods sold, services rendered, and other payments.
It is calculated before any expenditures, like as discounts and refunds, are deducted. Sales, money from fees, and income created by property are all examples of revenue.
Therefore, it is revenue.
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A ceiling design that has a rectangular center that is either popped out or inverted to add an effect.
Answer:
tray ceilings
Tray Ceiling - Usually seen in dining rooms and kitchens, tray ceilings are built upwards in a cut out resembling a tray. It has a rectangular center that is either popped out or inverted to add an effect
Explanation:
Hope it helps
A new ice cream shop is planning to move to Oxford. They have contracted you to identify the best area for them to locate, given a set of criteria. Their criteria includes [1] being within 1 mike of campus dorms, (2) being within walking distance (.5 miles) of a park, [3] being within . 5 miles of the uptown male square area, (1) What data do you need (report out data type and geometry)? (2) What GIS took could you use with this data to answer this question?
To identify the best area for the new ice cream shop in Oxford, you would need specific data types and geometry.
Firstly, you would need data on the campus dorms' locations, preferably in the form of points representing their coordinates. This would help you determine which areas are within a 1-mile radius of the dorms. Secondly, you would need data on the parks in Oxford, again represented as points with their coordinates. This data would enable you to identify areas within a 0.5-mile walking distance of a park. Lastly, you would require data on the uptown male square area, represented as a polygon outlining the boundaries. This data would help you determine which areas fall within a 0.5-mile radius of the uptown male square.
To answer this question, you could utilize GIS tools such as spatial analysis and proximity analysis. By overlaying the dorms, park, and uptown male square data layers, you could identify areas that satisfy all three criteria. In summary, you would need point data for the campus dorms and parks, and a polygon representing the uptown male square. With GIS tools, you can analyze the spatial relationships between these data sets to identify the best area for the ice cream shop in Oxford.
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Alec works on a new product development team at gto industries. His team is composed of members from engineering, quality, manufacturing, marketing, purchasing, and accounting. This describes a ________.
At GTO Industries, Alec is a member of the new product development team. Members of his team come from the fields of engineering, quality assurance, production, marketing, buying, and accounting. This describes a cross-functional team.
A cross-functional team is made up of people with different skills who collaborate to achieve a common goal. Employees from various divisions and levels usually participate.
The collaboration of teams from different functional areas, such as marketing and design, engineering and design, sales and customer success, and many more, can be considered an example of a cross-functional team.
Your business may address challenges more quickly and effectively by using cross-functional teams. They promote business alignment as team members work together to accomplish the same goals, which fosters creativity as employees from various functional areas work on new ideas at the same time.
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for each scenario, determine which bias is preventing a price index constructed 15 years ago from measuring the true cost of living. a. a typical family owns more cell phones and fewer landline telephones than it did a decade ago. the average price of a cell phone plan is lower than that of a residential line.
A bias of that magnitude would cause the growth of quantities deflated by the CPI, such as real wages, to be understated by 19 percent. Bias of this magnitude substantially affects how we assess the growth of our economy and the well-being of its members.
What bias is preventing a price index constructed?This level of bias has a significant impact on how we evaluate the expansion of our economy and the welfare of its constituents.
A skew of that magnitude would understate the increase in items like real earnings that are deflated by the CPI by 19%.
Therefore, Since the publication of the study in 1996, BLS has made certain methodological adjustments.
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The National Bureau of Economic Research (NBER) maintains the official chronology of past U.S. business cycles. Go to its website at www.nber.org/cycles/cyclesmain.html to answer the following questions.
a.) From the end of 1945 to June 2009, ______ business cycles have occurred.
b.) What was the average duration of a business cycle, measured as the end of one peak to the next, from the end of 1945 to June 2009? Round to the nearest tenth.
a) From the end of 1945 to June 2009, 83 business cycles have occurred.
b) The average duration of a business cycle, measured as the end of one peak to the next, from the end of 1945 to June 2009 is 31.
a.) Number of Business Cycles:
To determine the number of business cycles that occurred from the end of 1945 to June 2009, we can refer to the NBER's official chronology available on their website.
=> 31 + 21 + 18 + 13 = 83
By analyzing the chronology, we can count the number of distinct peaks, which corresponds to the number of business cycles within the given timeframe.
b.) Average Duration of a Business Cycle:
To find the average duration, we sum up the lengths of all business cycles within the specified period and divide it by the number of cycles. Mathematically, the average duration of a business cycle can be calculated using the following formula:
Average Duration = Total Duration of Business Cycles / Number of Business Cycles
First, we need to calculate the total duration of business cycles. To do this, we find the difference between the end dates of adjacent peaks (high points) and sum them up for all cycles within the specified period. Then, we divide this total duration by the number of business cycles.
=> (30 + 22 + 46 + 18 + 34 + 36) / 6
=> 31
Finally, rounding the average duration to the nearest tenth provides a more manageable and practical measure.
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the invention of the motion picture camera is an example of ______. technological innovation redefinition marketing innovation adaptation
The invention of the motion picture camera is an example of technological innovation.
Technological innovation refers to the development and implementation of new technologies, tools, or processes that bring about significant advancements or improvements in various fields. The invention of the motion picture camera represents a major technological innovation in the realm of visual media and entertainment. It revolutionized the way stories were captured, shared, and experienced, giving birth to the motion picture industry and transforming the way people consumed visual content.
The motion picture camera introduced a groundbreaking method of recording and projecting moving images, enabling the creation of films and allowing individuals and societies to explore new forms of storytelling and artistic expression. This technological innovation had a profound impact on numerous industries, including entertainment, education, advertising, and cultural preservation. It opened up new possibilities for communication, entertainment, and documentation, shaping the way we perceive and interact with visual media.
While redefinition, marketing innovation, and adaptation can also be relevant aspects of the overall impact and development of the motion picture camera, the primary and fundamental nature of this innovation lies in its technological advancements and the creation of a new medium for capturing and presenting moving images.
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On December 1, 2021, Carlos entered into a lease on a building for use in his business for $1,000 per month. Under the lease terms, Carlos pays 18 months’ rent ($18,000) in advance on December 1. How much can Carlos deduct for rent in 2021?
a. $12,000
b. $18,000
c. $1,000
d. $13,000
The amount that Carlos can deduct for rent in the year 2021, based on his annual rent is c.$1,000.
Rent in 2021When recording rent, you can only record it for the period that the financial statement is for.
The rent given is for 18 months from December 2021 which means that it will be for only a single month in December.
The rent will therefore be a rental amount for a month:
= Rental amount / Number of months
= $18,000 / 18
= $1,000
In conclusion, option C is correct.
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a government minister in country X recently said: "the secondary sector of the industry will always be more important than the tertiary sector to our economy." do you agree with this view? justify your answer.
Answer:
Explanations yes i agree with this view since raw material are must for every sector. If there is no product, then service sector will have no work.
tertiary sector provide services for primary and secondary sector also secondary sector depent on pramiry sectorfor the input
hello , What are three common tools for qualitative research in business and marketing?
Answer:
they would be in-depth interviews, focus group discussions and observation over data
Explanation:
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the preference for a specific brand is called __________ demand.
The choice for a particular emblem is called selective demand for.
The required details about selective demand is mentioned in below paragraph.
Selective demand for is the demandfor for a particular emblem, as opposed to for a wellknown product category. This technique happens while manufacturers create messages meant to growth their emblem identification and pressure hobby to their merchandise.Most advertising and marketing campaigns contain a selective demand for technique due to the fact corporations are seeking for to expose clients their aggressive advantage. This motivates purchasers to select services or products from one corporation over competitors. This form of marketing and marketing correlates with the desires of your business (to draw extra clients, distinguish your self from competitors, and acquire better revenue).
Selective demand for happens while a sure emblem desires to make human beings select their merchandise over others. Determine your most powerful sides, offer wonderful patron service, and sell your emblem on numerous channels to enhance your selective demand for.
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If you invest 50 percent of your funds in a stock with beta=1.5, 30 percent in a stock with beta=0.9 and 20 percent in a stock with beta=0.3, your portfolio beta will be
Answer:
1.08
Explanation:
The computation of the portfolio beta is shown below:
Portfolio beta is
= Invested stock percentage × beta of the stock + Invested stock percentage × beta of the stock + Invested stock percentage × beta of the stock
= 0.50 × 1.50 + 0.30 × 0.90 + 0.20 × 0.30
= 1.08
We simply applied the above formula so that the portfolio beta could come and the same is to be considered
When measuring your current financial health it is important to create
A) positive net worth.
B) a personal balance sheet.
C) an income statement.
D) positive net income.
E) both B and C.
When measuring your current financial health, it is important to create a personal balance sheet, which is a document that lists your assets, liabilities, and net worth.
A personal balance sheet is a key tool for measuring your financial health because it provides a snapshot of your current financial situation. It is created by listing all of your assets, such as cash, investments, and property, as well as all of your liabilities, such as loans, credit card debt, and mortgages. The difference between your assets and liabilities is your net worth, which is an important measure of your financial health. While an income statement, which shows your income and expenses over a period of time, is also useful for understanding your financial situation, it does not provide a complete picture. An income statement can show that you have a positive net income, meaning that your income exceeds your expenses, but it does not take into account your assets and liabilities. It is possible to have a positive net income but a negative net worth if you have high levels of debt or if your assets are not worth as much as your liabilities. Overall, creating a personal balance sheet is an important step in understanding your financial health and identifying areas for improvement. By tracking changes in your net worth over time, you can evaluate your progress towards achieving your financial goals.
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Budgeting for Needs
Select the items that are needs from your credit card statement.
CREDIT CARD STATEMENT
Last Month
Groceries$200
Movie rentals$15
Concert tickets$120
Internet services$60
Fitness class$35
Go-kart racing$50
The items that are needed from your credit card statement are Groceries $200, Internet Services $60 and Fitness Class $35. The correct options are a, d and e.
What is a credit card?A credit card is a thin rectangular piece of plastic or metal issued by a bank or financial services company that allows cardholders to borrow funds with which to pay for goods and services with merchants that accept cards for payment.
Credit cards impose the condition that cardholders pay back the borrowed money, plus any applicable interest, as well as any additional agreed-upon charges, either in full by the billing date or over time.
In addition to the standard credit line, the credit card issuer may also grant a separate cash line of credit to cardholders, enabling them to borrow money in the form of cash advances that can be accessed through bank tellers, ATMs, or credit card convenience checks.
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