Answer:
On issue date
Explanation:
A primary dealer buys Treasury Securities in a competitive bid at the weekly Treasury Auction. Settlement between the dealer and the Treasury occurs on issue date
A monopolist can sell 200 units of output for $36 per unit. Alternatively, it can sell 201 units of output for $35.80 per unit. The marginal revenue of the 201st unit of output is
Answer:
There is a negative marginal revenue from the sale of 201st units of - $4.2
Explanation:
The marginal revenue is the revenue of the additional unit of output sold. Thus, the marginal revenue is the revenue earned from the 201st unit of the output sold. To calculate the marginal revenue of the 201st unit, we will calculate the total revenue for 200 units and deduct it from the total revenue for 201 units.
Total revenue - 200 Units = 200 * 36 = $7200
Total revenue - 201 Units = 201 * 35.8 = $7195.8
Marginal revenue - 201st unit = 7195.8 - 7200 = - $4.2
There is a negative marginal revenue from the sale of 201st units of - $4.2
A bond with par value of $1,000 has an annual coupon rate of 4.8% and currently sells for $970. What is the bond’s current yield?
Question:
A bond with par value of $1,000 has an annual coupon rate of 4.8% and currently sells for $970. What is the bond’s current yield?
Assuming a maturity period of 10 years (Note the tutor added this)
Answer:
Yield to Maturity =5.18%
Explanation:
The Yield to maturity is the discount rate that equates then price of the bonds to the present of cash inflows expected from the bond
The yield on the bond can be determined as follows using the formula below:
YTM = C + F-P/n) ÷ 1/2 (F+P)
YTM-Yield to maturity-
C- annual coupon
F- Face Value
P- Current Price
n- years to maturity
YTM-?, C- 4.8%× 1000 =60, Face Value - 1,000, P-970, n- 10
YTM = (48 + (1000-970)/10) ÷ ( 1/2× (1000 + 970) )
YTM = 0.0518 × 100 = 5.18%
Yield to Maturity =5.18%
The expected average rate of return for a proposed investment of $5,910,000 in a fixed asset, using straight-line depreciation, with a useful life of 20 years, no residual value, and an expected total net income of $17,730,000 over the 20 years is:________ (round to two decimal points).
a. 30.00%
b. 60.00%
c. 1.50%
d. 15.00%
Answer:
Option A, 30.00%, is the correct answer.
Explanation:
The investment amount = $5910000
Useful life = 20 years
Residual value = 0
Expected net income = $17730000
Use the below formula to find the average rate of return by using the given values.
The average rate of return = Average Annual Net Income / Average investment
Now insert all the given values in the formula in order to compute the average rate of return.
[ ( 17730000 / 20 ) / ( 5910000 / 2 ) ] * 100
[ 886500 / 2955000 ] * 100 =30 %
Select the correct answers from the drop-down menus,
The workplace is busy with many conflicting priorities. When communicating with a coworker face-to-face,
it is important to
When communicating with supervisors, it is recommended to
A good rule for communicating with anyone in the workplace is to
When communicating in writing, it is important to be focused, brief, and
POINT
Answer:
Communication Skills
The workplace is busy with many conflicting priorities. When communicating with a coworker face-to-face, be clear and get to the point.
it is important to maintain eye contact.
When communicating with supervisors, it is recommended to be more formal.
A good rule for communicating with anyone in the workplace is to treat others as you want to be treated by them.
When communicating in writing, it is important to be focused, brief, and factually accurate or correct.
Explanation:
Martin Kissey, a busy executive, does not have time for beating about the bush. Therefore, it is important to communicate without wasting his time. Time is very precious for him. And courtesy demands that you do not waste this precious resource.
Oditexo likes to maintain eye to eye contact with the person she is conversing with because she has learned that it delivers a message about being honest. It shows that she is not hiding a skeleton in her cupboard. When you are dishonest, it is very difficult to maintain eye contact. It shows on your face.
Jane's supervisors may be friendly with her. But, Jane should not take it too seriously and allow informal mannerism to seep into communication with her supervisors. She should maintain a formal decorum. There is always time for everything.
I also understand that you want others to respect you and your time, and recognize that you have got your brief to take care of. Show them the same respect and recognition, while communicating within your workplace.
Conciseness is important in all written communications. Deliver the message succinctly without decorating the facts. Others will appreciate you for doing this. Do not allow verbosity to ruin your message.
Answer:
Be clear and get to the point quickly
Be more formal
Treat people as you want to be treated
Factually accurate
Explanation:
Broker James has had his license suspended for two years. The licenses of all the broker-associates and salespersons who work for James are
Available Options Are:
A. Revoked, subject to reinstatement after 30 days.
B. Not affected by the suspension
C. Automatically suspended
D. Placed on inactive status
Answer:
D. Placed on inactive status
Explanation:
The reason is that James was jointly responsible for the actions of his broker-associates and salesperson because they were working under his supervision and that's why now as the license of James has been suspended for 2 years, James is no more jointly accountable for the actions of his associates and salesperson. Hence the licenses of associates and salesperson will be placed on inactive status. To reactive they will have to affiliate themselves to a broker who possesses an active license.
Monopolistically competitive firms are troublesome to regulate for all of the following reasons, EXCEPT:_________.
a. they comprise a large proportion of the economy.
b. their market and political power renders them virtually untouchable.
c. it could result in fewer choices for consumers.
d. regulating prices only magnifies the inefficiency typical of these firms.
e. the government may be forced to subsidize firms to keep them in business.
Answer: b. their market and political power renders them virtually untouchable.
Explanation:
Monopolistically competitive firms typically comprise a large proportion of the economy and are therefore troublesome to regulate due to their sheer number.
Regulating them could also be troublesome for the economy as it might reduce the options that consumers have as well as exacerbate the inefficiencies of said firms.
They are not however, virtually untouchable as there are a myriad of laws that enable the Government to regulate them if the Government feels it is in the best interest of the consumers.
Bond prices are _______ sensitive to changes in yield when the bond is selling at a _______ initial yield to maturity.
Answer: more; lower
Explanation:
The yield to maturity is the annual rate of return for a bond which has been estimated as long as the bind is being held by the investor till it matures.
It should be noted that Bond prices are more sensitive to changes in yield when the bond is selling at a lower initial yield to maturity.
describe the efforts that local governments should make to increase local revenue from the tax sector!
Answer:
I need help too, I'm about to fail this
Job 607 was recently completed. The following data have been recorded on its job cost sheet:Direct Materials $3,405 Direct Labor Hours 50 labor hoursDirect Labor wage rate $13 per labor hourMachine Hours 158 machine hoursThe company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $14 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 607 would be:
Answer:
Total cost= $6,267
Explanation:
Giving the following information:
Direct Materials $3,405
Direct Labor Hours 50 labor hours
Direct Labor wage rate $13 per labor hour
Machine Hours 158
The predetermined overhead rate is $14 per machine-hour.
To calculate the total cost, we need to use the following formula:
Total cost= direct material + direct labor + allocated overhead
Total cost= 3,405 + 13*50 + 14*158
Total cost= $6,267
Fifth National Bank just issued some new preferred stock. The issue will pay an annual dividend of $22 in perpetuity, beginning 11 years from now. If the market requires a return of 3.6 percent on this investment, how much does a share of preferred stock cost today
Answer:
$429.06
Explanation:
The computation of the cost of today preferred stock share is shown below:
But before that first determine the preferred stock value of 11 years from now which is
= Annual dividend ÷ rate of return
= $22 ÷ 0.036
= $611.11
Now the current value is
= $611.11 × Present value of discount factor at 3.6% in 10 years
= $611.11 ÷ 1.036^10
= $429.06
3. Suppose local governments throughout the United States increase their tax on business inventories. What would you expect to happen to U.S. investment? Why?
Answer:
The investment will fall.
Explanation:
The U.S investment will fall because the increase in the tax will reduce its corporate profit and gross domestic investment will fall. Since the primary motive of every firm or company is to earn profit but if their profit decreases then the investor will not invest. Moreover, the company or investor will choose a different country where it can make more profit. Therefore, a rise in tax rate demotivates the investment.
If the local governments increase their tax on business inventories, then, investment will decline.
Basically, when there are increase of tax on business inventories, the country's gross domestic private investment will fall because investor are discouraged to invest.
The gross private domestic investment measure the amount of money that domestic businesses invest within their own country
Hence, the high tax will discourage current and new investors.
In conclusion, If the local governments increase their tax on business inventories, then, investment will decline.
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Lego Company has used the FIFO method since it began operations in 2023. Lego changed to the weighted average method in 2026. The change was justified. In its 2026 financial statements, Lego included comparative statements for 2025 and 2024. The following are the year-end inventory balances under the FIFO and weighted average methods.
Year FIFO Weighted Average
2023 $108,000 $90,000
2024 $134,000 $122,000
2025 $166,000 $140,000
What adjustment should be made to Cost of Goods Sold retrospectively for the year ended December 31, 2025?
a. $22,000 decrease
b. $8,000 decrease
c. $14,000 increase
d. $18,000 increase
e. $24,000 increase
Answer:
c. $14,000 increase
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If the liabilities of a business increased $105,000 during a period of time and the Stockholders' Equity in the business decreased $45,000 during the same period, the assets of the business must have
Answer:
Assets increased by $60,000
Explanation:
Accounting information : Stockholders' Equity = Assets - Liabilities
Assets = Stockholders' Equity + Liabilities
$105,000 - $45,000 = $60,000
Assets increased by $60,000
Assume a project has earnings before depreciation and taxes of $15,000, depreciation of $25,000, and that the firm has a 30% tax bracket. What are the after-tax cash flows for the project
Answer: $12,000
Explanation:
The following information can be gotten from the question:
Earnings before depreciation and taxes = $15,000
Less: depreciation = $25,000
The earnings before tax = -$10,000
Less: taxes at 30% = -$3,000
Earnings after tax = -$13,000
Add: depreciation = $25,000
Cash flow = $25,000 - $13,000
= $12,000
On January 1, 1997, Brian’s stock portfolio is worth $100,000. On September 30, 1997, $5,000 is withdrawn from the portfolio, and immediately after this withdrawal the portfolio has a value of $105,000. Twelve months later, the value of the portfolio is $108,000, and Brian adds $3,000 worth of stock to his portfolio. On December 31, 1998, the portfolio is worth $100,000. What is the two-year time-weighted rate of return for Brian’s stock portfolio?
Answer:
1.93%
Explanation:
Time weighed rate can be calculated by using the formula below
TWR = [(1+HPR1)+(1+HPR2)+(1+HPR3) ...(1+HPRn)
TWR = [(1+HPR1)+(1+HPR2)+(1+HPR3) ...(1+HPRn)HPR = (End value - initial value)/end value
For HPR1:
End value = 110000
Initial value = 100000
(110000-100000)/100000
= 10000/100000
= 0.1
1 + 0.1 = 1.1
For HPR2
End value = 108000
Initial value = 105000
3000/105000
= 0.0286
1 + 0.0286
= 1.0286
For HPR3
End value = 100000
Initial value = 108000 + 3000 that was added to make it 111000
(100000-111000)/111000
= -0.0991
1-0.0991
= 0.9009
TWR = (1.1*1.0286*0.9009)-1
= 0.01933
0.0193 x 100
= 1.93%
1. Managed care has caused the U.S. health care system to:
A. Advance its high-tech capabilities
B. Continuously monitor the efficiency and effectiveness of the care delivered
C. Address the problems of uninsured populations
D. Consider the portability of health insurance
Financial statements prepared by a voluntary health and welfare nongovernmental not-for-profit organization must report expenses by the following classification(s):Functional NaturalA. YES YES ï¼ B. Yes NoC. No Yes D. No No
Answer:
A. YES YES
Explanation:
In accordance with Financial Accounting Standards Board guidelines, all nonprofit organizations in the United States are now compelled to report their expenses in accordance with their functional classification and by the natural classification.
Hence, it is true that Financial statements prepared by voluntary health and welfare nongovernmental not-for-profit organization must report expenses both by both functional and natural class.
Given the following data, what is cost of goods sold as determined by the FIFO method?
Sales 280 units
Beginning inventory 250 units at $6 per unit
Purchases 128 units at $11 per unit
A. $3,080
B. $1,680
C. $2,320
D, $1,830
Answer:
The answer is D. $1,830
Explanation:
FIFO means First in First out.
It is one of the inventory methods along with LIFO(Last in First out), average weighted cost and specific identification.
FIFO literally means the inventory bought first will be the first to be sold. Leaving the last inventories bought as the ending inventory.
In this question, Cost of Sales according to FIFO is:
250 units x $6 = $1,500
30 units at $11 = $330
Total =. $1,830
Therefore, the cost of sales under this method is $1,830
Carlson Bottling Corporation is considering the purchase of a new bottling machine. The machine would cost $300,000 and has an estimated useful life of 8 years with zero salvage value. Management estimates that the new bottling machine will provide net annual cash flows of $52,500. Management also believes that the new bottling machine will save the company money because it is expected to be more reliable than other machines, and thus will reduce downtime. (a) What is the net present value of the project? Assume a discount rate of 9%. (b) How much would the reduction in downtime have to be worth in order for the project to be acceptable?
Answer:
a) initial outlay = -$300,000
net cash flows years 1 - 8 = $52,500
discount rate = 9%
using a financial calculator, NPV = -$9,422, this means that the project should be rejected
b) In order for the project to be accepted, its NPV ≥ 0, therefore, the reduction in downtime should be worth at least $9,422 (at present day dollars).
If we analyze it on a yearly basis, the reduction in downtime should be worth $9,422 / 5.5348 (PV annuity, 9%, 8 periods) = $1,702.32
You have observed that your organization is not getting any incoming messages. What would be the most likely problem
Answer:
Port 25 is not open on the firewall
Explanation:
Ports can be open or closed on a computer for security reasons. Usually this is done to block public access to processes running on the computer for example by a malicious software.
If an organisation notice they are not getting incoming mail it is most likely due to port 25 being closed in the firewall.
Port 25 controls sending of mails. So it will need to be opened to allow mails to be sent.
The following procedure can be used to open port 25.
- Open control panel
- Right click on Inbound rule. Select New Rule
- Select the port option
- Click on TCP and Local Ports
- Select action to be taken (Allow connection if it is secure).
- Select the type of connection. That is Private or Public
- Assign a name and click Finish
Suppose you save for a down payment on a house by investing $1200 each quarter into an account that gives 3.6% annual interest, compounded quarterly (four times a year). How much will you have after 5 years?
Answer:
FV= $26,167.17
Explanation:
Giving the following information:
Quarterly deposit= $1,200
i= 0.036/4= 0.009
n= 5*4= 20
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= quarterly deposit
FV= {1,200*[(1.009^20) - 1]} / 0.009
FV= $26,167.17
On January 1, 2016, Legion Company sold $200,000 of 10% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $177,000, priced to yield 12%. Legion records interest at the effective rate. Legion should report bond interest expense for the six months ended June 30, 2016, in the amount of:_________.A. $8,850B. $10,000C. $10,620D. $12,000
Answer:
C. $10,620
Explanation:
January 1, 2016
Dr Cash 177,000
Dr Discount on bonds payable 23,000
Cr Bonds payable 200,000
discount amortization = ($177,000 x 6%) - $10,000 = $10,620 - $10,000 = $620
June 30, 2016, first coupon payment
Dr Interest expense 10,620
Cr Cash 10,000
Cr Discount on bonds payable 620
Moorcroft Company’s budgeted sales and direct materials purchases are as follows:
April May June
Budgeted Sales $300,000 320,000 370,000
Budgeted D.M. Purchases $45,000 54,000 60,000
Moorcroft’s sales are 40% cash and 60% credit. Credit sales are collected 30% in the month of
sale, 40% in the month following sale, and 26% in the second month following sale; 4% are
uncollectible. Moorcroft’s purchases are 50% cash and 50% on account. Purchases on
account are paid 40% in the month following the purchase and 60% in the second month
following the purchase.
Instructions
(a) Prepare a schedule of expected collections from customers for June.
Copyright © 2015 John Wiley & Sons, Inc. Weygandt, Accounting Principles, 12/e, Challenge Exercises (For Instructor Use Only)
(b) Prepare a schedule of expected payments for direct materials for June.
(c) Moorcroft’s assistant controller suggested that Moorcroft hire a part time collector to
encourage customers to pay more promptly and to reduce the amount of uncollectible
accounts. Sales are still 40% cash and 60% credit but the assistant controller predicted
that this would cause credit sales to be collected 30% in the month of the sale, 50% in
the month following sale, and 18% in the second month following sale; 2% are
uncollectible.
Prepare a schedule of expected collections from customers for June.
How did these changes impact cash collections? Would it be worth
paying the collector $1,000 per month?
(d) The assistant controller also suggested that the company switch their purchases to 40%
cash and 60% on account to help stretch out their cash payments. There is no
additional interest charge to do this and Moorcroft is still paying their bills on time. There
is no change to the company’s payment pattern.
Prepare a schedule of expected payments for direct materials for June.
How did these changes impact the cash payments for June? Copyright © 2015 John Wiley & Sons, Inc. Weygandt, Accounting Principles, 12/e, Challenge Exercises (For Instructor Use Only)
Answer:
a) Month Sales
April $300,000
May $320,000
June $370,000
Schedule of expected collections
For the month of June, 202x
Cash sales during June = $370,000 x 40% = $148,000
Collection from June's credit sales = $222,000 x 30% = $66,600
Collection from May's credit sales = $192,000 x 40% = $76,800
Collection from April's credit sales = $180,000 x 26% = $46,800
Total cash collections during June = $338,200
b) Month DM purchases
April $45,000
May $54,000
June $60,000
Schedule of expected cash payments for direct materials purchases
For the month of June, 202x
Cash purchases during June = $60,000 x 50% = $30,000
Cash payments for May's purchases = $27,000 x 40% = $10,800
Cash payments for April's purchases = $22,500 x 60% = $13,500
Total cash payments during June = $54,300
c) Month Sales
April $299,000
May $337,000
June $387,000
Schedule of expected collections
For the month of June, 202x
Cash sales during June = $370,000 x 40% = $148,000
Collection from June's credit sales = $222,000 x 30% = $66,600
Collection from May's credit sales = $192,000 x 50% = $96,000
Collection from April's credit sales = $180,000 x 18% = $32,400
Total cash collections during June = $343,000
It would be worth to pay the collector since the 2% reduction in uncollectible accounts is worth much more than the $1,000 that he/she earns.
d) Month DM purchases
April $45,000
May $54,000
June $60,000
Schedule of expected cash payments for direct materials purchases
For the month of June, 202x
Cash purchases during June = $60,000 x 40% = $24,000
Cash payments for May's purchases = $32,400 x 40% = $12,960
Cash payments for April's purchases = $27,000 x 60% = $16,200
Total cash payments during June = $53,160
Prepare a statement of revenues, expenses, and changes in fund net position. The net position balance at the beginning of the period was $60,129.
Complete Question:
The Town of Elizabeth operates the old train station as an enterprise fund. The train station is on the national register of historic buildings. Since the town has held the building for such a long time, the Central Station Fund has no long-term debt. The only capital assets recorded by the Central Station Fund are machinery and equipment. Businesses rent space in the building and the town provides all services related to the operation and maintenance of the building. Following is information related to the fund's 2017 operating activities:
1. Rental income of $94,444 was accrued. Subsequently, cash in the amount of $90,210 was received on accounts.
2. Cash expenses for the period included: administrative services, $25,205; maintenance and repairs, $72,882; supplies and materials, $7,792 and utilities $30,124.
3. The Central Station Fund received a $60,000 transfer of funds from the General Fund.
4. Adjustments were made for depreciation ($3,519) and for uncollectible accounts ($667).
5. At the end of the period, nominal accounts were closed.
Required: (b only)
Prepare a statement of revenues, expenses, and changes in fund net position. The net position balance at the beginning of the period was $60,129.
Answer:
The Central Station Enterprise Fund
Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 20XX:
Rental Income $90,210
Expenses:
Administrative services 25,205
Maintenance & Repairs 72,882
Supplies & Material 7,792
Utilities 30,134
Total Expenses $136,193
Excess Expenses (45,983)
Transfer from
General Funds 60,000
Beginning balance 60,129
Ending Balance $74,146
Explanation:
The Central Station Enterprise Fund's statement of revenues, expenses, and changes in fund balances is the governmental funds' income statement. It tracks the inflow and outflow of resources. The statement does not only report revenues and expenses, it also reports inflows and outflows of resources like the transfer of funds received from the General Fund, including the beginning fund balance. Together, these will result to an ending fund balance.
Name the 3 types of MPA programs offered at Mccombs:
Answer:
Traditional MPA
Integrated MPA
ECON-MPA
Explanation:
The details of the three types of MPA program are mentioned below:
Traditional MPA
This is a one year program (Minimum) and is available to those who hold bachelor's degree in any discipline. This program does not require any prior work experience.
Integrated MPA
Program designed for McCombs undergraduates. in this pathway students earn their Bachelors and Masters (MPA) in just five years, saving them both time and money.
ECON-MPA
This program is developed for current UT undergraduates in economics. This helps them earn a Bachelors degree in economics and MPA degree within their period of study.
The PW of five independent projects have been calculated at an MARR of 12% per year. Select the best combination at a capital investment limit of (a) $25,000, (b) $49,000, and (c) unlimited.
Initial Life,
Project Investment, Years PW,
S -15,000 6 8,540
A - 26,000 8 12,100
M -10,000 6 3,000
E 25,000 4 10
H -40,000 12 15350
Answer:
Project Investment Years PW,
S -15,000 6 8,540
A - 26,000 8 12,100
M -10,000 6 3,000
E 25,000 4 10
H -40,000 12 15350
I assume that the present worth of the projects is their net present value (NPV), so all the projects have a positive NPV. I believe that there is a mistake on project E since the initial outlay is generally negative, no one will pay you to start a project, although it is also the project with the lowest NPV.
a) If I had $25,000, I would invest in projects S and M which will increase my present wealth by $3,000 + $8,540 = $11,540. If something really strange happened and you would actually receive money for starting a project (project E), I would also take it even if its NPV is only $10, since I'm not spending money, instead I'm receiving money.
b) If I had $49,000, I would invest in projects S and A which will increase my present wealth by $8,540 + $12,100 = $20,640. Again, if something really strange happened and you would actually receive money for starting a project (project E), I would also take it.
c) If I had unlimited resources, I would invest in all the projects since they all have positive NPVs.
True or False: Price equals marginal cost is a sufficient condition for profit maximization.
Answer:
False
Explanation:
The profit maximizing rule is the rule in which the Marginal cost is equivalent to the Marginal revenue
i.e.
Marginal revenue = Marginal cost
MR = MC
In the case of perfect competition,
P = MC
Price = Marginal cost
For the firms that are price maker, in this the demand is downward and the marginal revenue is below to the demand curve
So
in this,
The price > MR = MC
Therefore this is not a sufficient condition
Hence, the given statement is false
Outdoor Lighting Supply expects the following for 2018: Net cash provided by operating activities of Net cash provided by financing activities of Net cash provided by investing activities of Cash dividends paid to stockholders of Outdoor expects to spend to modernize its showroom. How much free cash flow does Outdoor expect for 2018?
Answer:
The correct option is A. $134,000.
Explanation:
Note: This question is not complete as all the data are omitted. The complete question is therefore provided before answering the question as follows:
Outdoor Lighting Supply expects the following for 2018:
Net cash provided by operating activities of $284,000
Net cash provided by financing activities of $67,000
Net cash provided by investing activities of $76,000
Cash dividends paid to stockholders of $29,000
Outdoor expects to spend $150,000 to modernize its showroom.
How much free cash flow does Outdoor expect for 2018?
Select one:
A. $134,000
B. $112,000
C. $264,000
D. $105,000
The explanation to the answer is now provided as follows:
Free cash flow (FCF) refers to the cash that is generated by a company through its operations minus capital expenditure such as cost of acquiring new assets as well as maintenance Capital expenditure and capital work in progress.
Therefore, free cash flow can be calculated using the following formula:
FCF = NCO - Capital expenditure ..................................... (1)
Where, for Outdoor Lighting Supply;
FCF = Free cash flow = ?
NCO = Net cash provided by operating activities = $284,000
Capital expenditure = Amount expected to spend to modernize showroom = $150,000
Substituting the values into equation (1), we have:
FCF = $284,000 - $150,000
FCF = 134,000
The amount of free cash flow Outdoor expects for 2018 is $134,000. Therefore, the correct option is A. $134,000.
What are the arithmetic and geometric average time-weighted rates of return for the investor?(Round your year-by-year rates of return and final answer to 2 decimal places. Do not round other calculations.)
The owner of a variable annuity has all of the following rights EXCEPT the right to vote:_________
a. for the Board of Trustees
b. for dissolution of the trust
c. to change the separate account's investment objective
d. for the sales charge imposed by the trust
Answer:
for the sales charge imposed by the trust
Explanation:
A variable annuity has a part of it to be investment and another part as insurance. The gains from it are tax deferred till the money is withdrawn.
The owner of such has the right to vote for options a, b,c that is the Board of Trustees, for trust dissolution, to change in investment objectives. But they cannot vote for for the sales charge imposed by the trust.