FIN 571 Week 1 Connect Problems ( Week 1 Problem Set ) FOR MORE CLASSES VISIT www . fin571tutor . com
4 . If the future value of a one-period investment is given by the formula , F = I + ( I × R ), what is the formula for the rate of interest , R ? 5 . If the bank returns $ 50 on a $ 1,000 deposit after one year , what is the interest rate earned on this deposit ? 10 . Accounting Concepts This lesson will help you refresh the basic accounting concepts . 1 . ________ are items owed to a creditor . ________ are items owned by a company . ________ represents owners ' claims to company resources . 2 . Under ________ accounting , revenues are recorded when earned and expenses are recorded with related revenues . Under ________ accounting , revenues are recorded when cash is received and expenses are recorded when cash is paid out . Financial statements are prepared using ________ accounting . 3 . The ________ retains the power and authority to set accounting standards . Currently , this responsibility has been delegated to the ________. 4 . In what order are the four primary financial statements prepared ? 5 . The difference between net income and dividends paid is known as what ?
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FIN 571 Week 1 Connect Problems ( Week 1 Problem Set ) FOR MORE CLASSES VISIT www . fin571tutor . com
FIN 571 Week 1 Connect Problems ( Week 1 Problem Set ) 1 . The ultimate control of a corporation lies in the hands of the corporate :
president . board of directors . chairman of the board .