In your analysis do you think the family is better off renting than owning a home and paying their mortgage, or vice versa. Explain the gains and losses from owning a home compared to renting.
9 Marks

Background information

Brad and Angelina are a working couple with two children going to school and looking to buy a family home in your city/town, and currently, they are renting a four-bedroom home for $700 a week. Brad is an accountant with a local firm and earns a $100,000 annual salary, while Angelina is a full-time mum and works part-time earning $50,000 in an administration role at a local school. The couple has a savings of $80,000 and stocks worth $30,000 (which have fallen in value by fifty percent recently), and they also own an investment property that is negatively geared with an outstanding mortgage of $300,000. Other household assets jointly owned including jewellery, two cars, furniture, etc are valued at $50,000. Both have their own credit card, each with a $10,000 limit. They plan to live in their new home till retirement. The couple has contacted you as a mortgage broker to get the best mortgage advice on how to proceed with their mortgage application and the loan amount that can be approved for the borrowing. Brad is more interested in an established home having a spacious workshop, while Angelina is keen on a newly constructed eco-friendly home with a designer kitchen. Brad also wants to take his family for a European tour next year by using some of their savings. In your analysis, draw a family budget that will qualify them for a home mortgage application. You can consult a mortgage broker/online mortgage calculator, however, all analysis will be based on your understanding and not of the mortgage broker. Home prices and valuations and other figures can be based on market values shown on websites such as (www.realestate.com.au and www. domain.com.au). All information sourced is to be referenced. You can include any other assumed information (e.g. expenses, imaginary figures, all interest rates to be current, etc) to build on the scenario.

When Cameron and Ashley allow a customer to buy on credit, the account that increases is: d. Accounts Receivable.

Accounts receivable is an asset account that represents the amount of money owed to the business by its customers for goods or services sold on credit. When a customer is allowed to buy on credit, the business recognizes the sale as revenue, but the payment is expected to be received at a later date. Therefore, the amount owed by the customer is recorded as an increase to the accounts receivable account. This account will be decreased once the customer pays their debt to the business.

Accounts Receivable is the account that tracks money owed to a business by customers who have made purchases on credit. In this scenario, Cameron and Ashley have extended credit to a customer, meaning they are allowing the customer to pay for their purchase at a later date. As a result, the Accounts Receivable balance will increase.

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Bankruptcies remain on a consumer's credit report for ten years after they are filed. As a result, option (c) is the proper response.

Bankruptcy is a legal process that can appear on your credit reports for up to ten years after your debts have been cleared and the bankruptcy has been finalized.

The bankruptcy will automatically be removed from your credit report after seven or ten years.

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Either the buyer or the seller can reject dual agency, even if the brokers agree to it.

Even if the buyer's and seller's brokers agree to dual agency, either the buyer or the seller may reject the arrangement. This is because dual agency creates a conflict of interest, and both parties have the right to have an agent who is working solely in their best interests.

If either the buyer or the seller rejects dual agency, the transaction will need to be handled by two separate agents. This may make the transaction more complex and time-consuming, but it will ensure that both parties have the best possible representation.

Here are some of the reasons why a buyer or seller might reject dual agency:

They may feel that the agent cannot represent their interests fairly if they are also representing the other party.

They may be concerned that the agent will not disclose all of the information that is relevant to the transaction.

They may simply prefer to have an agent who is working solely in their best interests.

If you are considering dual agency, it is important to understand the risks involved and to be sure that you are comfortable with the arrangement. You should also discuss the matter with your agent to make sure that they understand your concerns and are committed to representing your interests fairly.

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In a business setting, the given occurrence we called the reverse discrimination

Reverse discrimination is the non-fair treatment of members who belong to the majority group in the workplace that depends upon race, gender, etc.

Reverse discrimination might arise at the time when the majority group like white or males are to be overlooked for following things

These should provide the preference to the minority group like for women

So therefore we can conclude that In a business setting, the given occurrence we called  the reverse discrimination

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Answer:

From the top of the pyramid, the Cigarette Industry is operating at the penultimate level which speaks to Legal Responsibility.

In descending order, there are four levels on the social responsibility pyramid. Namely:

Cheers!

Answer:

Don't use the word super.  Being sure is either you know or don't know.

Explanation:

Just ask a repeat of the question and then if you are unsure, tell the teacher.

They can claim a maximum of $5,250 in child tax credits on their 2019 tax return.

Adjusted gross income is defined as gross income less income adjustments (AGI). Your gross income includes all of your earnings, including salary, bonuses, capital gains, corporate revenue, retirement benefits, and other types of income.

To help more families, the Child Tax Credit was expanded as part of the American Rescue Plan, which became law on March 11, 2021. For each child under the age of six, the price has raised from $2,000 in 2020 to $3,600 in 2019. For each child between the ages of 6 and 16, it has increased from $2,000 to $3,000.

($415,000 - $400,000)/1,000 = 15. 15 x $50 = $750 phase out.

$6,000 - $750 = $5,250.

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Kohl’s will want to enter into a partnership with Amazon with hopes of increasing its store traffic by bringing Amazon customers in.

Partnership is basically the coming together of two of more companies or individual with a common goal.

Let bear in mind that Partnership is different from Acquisition or Merger because each owner is entitled to their share of profit.

Through this partnership, Kohl's and Amazon will both benefit from the arrangement.

Currently, Kohl's has a large number of physical stores which Amazon has no access to. So therefore, Kohl's will benefits from Amazon's strong online customer base.

Therefore, Kohl’s will want to enter into a partnership with Amazon with hopes of increasing its store traffic by bringing Amazon customers in.

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creation of the necessary records for Newton Labs & Brookline Instruments to keep track of the agreement at its commencement on January 1, 2021, as well as on March 31, 2021.

A beginning act, instance, or moment, for example, graduation ceremonies or the date on which graduates of the a school or college receive their degrees or diplomas.

A commencement date is often when an employment offer is accepted, but it may also be the day on which a person begins employment if they have previously been hired on the a different basis .

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Answer:

C. Market.

Explanation:

An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.

Basically, there are four (4) main types of economy and these are;

I. Mixed economy.

II. Command economy.

III. Traditional economy.

IV. Free market economy.

A free-enterprise system also referred to as capitalism or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a free-enterprise system is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.

Simply stated, a free-enterprise system is a type of economy that is completely driven by demand and supply of goods and services.

The four (4) main elements or characteristics of a free enterprise system includes the following;

a. Profit: businesses are all out to generate revenue and profit through the sales of finished goods.

b. Economic freedom: means of production of goods and services are controlled by the people rather than the government. Thus, the producers are free to make their economic choices or decisions such as deciding on how much is to be charged on a product.

c. Private ownership of properties: the various factors of production are owned and allocated by the people. Thus, citizens have rights to the ownership and use of private property.

d. Competition: there are many buyers and sellers of homogeneous products, as well as free entry and exit in the market. Thus, consumers are free to make their economic choices or decisions such as deciding on which product to buy, which goods interest them, where to shop for goods, etc.

In conclusion, a market is characterized by the following economy;

I. Economic freedom

II. Competition between businesses

III. Decisions motivated by profit

is command

Explanation:

trust me

Answer: Brainstorm Pre-write. Write rough draft. Peer-review. Revise ideas. Edit Publish Establish constructive purposes for student writing. Find real audiences, beyond the teacher, for students' writing

A) The journal entry using the percent-of-receivables method is as follows:

Debit Bad Debts Expense $6,620

Credit Allowance for Uncollectible accounts $6,620

B) The journal entry using the percent-of-receivables method is as follows:

Debit Bad Debts Expense $11,120

Credit Allowance for Uncollectible accounts $11,120

The percent-of-receivable method is one of the methods for making allowances for uncollectible accounts.  Other methods include using an estimated percentage of the sales revenue and aging the accounts receivable

This method uses an estimated percentage of the receivables at the end of the financial period to compute the ending allowance for uncollectible accounts.

December 31, 2023:

Accounts receivable

Beginning balance = $29,000

Revenue for 2024 =  462,000

Cash collected =      (324,000)

Accounts written off = (6,000)

Ending balance        $161,000

Allowance for uncollecdtible accounts = 2% or $3,220 ($161,000 x 2%)

A) Allowance for uncollectible accounts:

Beginning balance = $2,600 (credit)

Accounts written off   (6,000)

Ending balance           (3,220)

Bad debts expense = $6,620

Bad Debts Expense $6,620 Allowance for Uncollectible accounts $6,620

B) Allowance for uncollectible accounts:

Beginning balance = ($1,900)

Accounts written off   (6,000)

Ending balance           (3,220)

Bad debts expense = $11,120

Bad Debts Expense $11,120 Allowance for Uncollectible accounts $11,120

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There are 84 different 7-digit positive integers with digits in non-decreasing order from left to right.

Let's dive deeper into the details below.

To determine the number of 7-digit positive integers with non-decreasing digits from left to right, we can use a technique called stars and bars.

Consider each digit as a 'star' and six 'bars' that separate the digits. For example, the number 1123456 can be represented as * | * | ** | * | * | * | * (1 | 1 | 23 | 4 | 5 | 6). We want to distribute these stars (digits) in 10 containers (0 to 9) without changing their order.

There are 9 bars (10 - 1) that separate these 10 containers. We need to select 6 bars (7 - 1) from these 9 bars to create our 7-digit number. We can use the combination formula for this, which is:

C(n, r) = n! / [r! * (n - r)!]

In our case, n = 9 and r = 6, so:

C(9, 6) = 9! / (6! * (9 - 6)!) = 84

So, there are 84 different 7-digit positive integers with digits in non-decreasing order from left to right.

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Answer:

D. Trojan Horse, nice to know some computer lab info of mine didn't go to waste

Explanation:

today's world, 96% of consumers have used a coupon in the past 90 days. JC Penney tried to break consumers of the coupon habit in 2012 and quickly saw a 23% drop in sales for the first three quarters of 2012. If JC Penney couldn't change people's shopping behavior, you probably can't either.n: so i guess its c

Answer:

78%

Explanation:

I take nutrition and wellness, and this was the correct answer for me. Just took the test as well :P

A​ ​$12 ​billion increase in autonomous expenditure increases equilibrium expenditure by​ $60 billion. The multiplier is​ 5.00.

The multiplier is 5.00.

The formula for the multiplier is:

Multiplier = 1 / (1 - MPC)

where MPC is the marginal propensity to consume. Assuming a marginal propensity to consume of 0.8 (or 80%), the multiplier can be calculated as:

Multiplier = 1 / (1 - 0.8) = 5.00

Therefore, a $12 billion increase in autonomous expenditure would result in an increase in equilibrium expenditure of $12 billion * 5.00 = $60 billion.

Autonomous expenditure refers to the spending that is not influenced by changes in disposable income, such as government spending, investment spending, and exports. It is an important component of aggregate expenditure and can affect economic growth and stability.

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Answer:

$5,760

Explanation:

Calculation to determine How much interest revenue should Jaffe record from the lease for the year ended December 31, Year 4

First step is to calculate the carrying amount

carrying amount=$67,600-$10,000

carrying amount of $57,600

Now let calculate the interest revenue

Interest revenue =$57,600*10%

Interest revenue=$5,760

Therefore How much interest revenue should Jaffe record from the lease for the year ended December 31, Year 4 is $5,760

If someone offers $50 to anyone who returns her lost cat, then returning the cat is an acceptance of a unilateral contract.

A unilateral contract is a type of contract that requires the performance of an action in return for a promise of payment or other reward. The acceptance of a unilateral contract occurs when the offeree performs the requested act, rather than by providing a promise of performance. An example of a unilateral contract is a lost dog advertisement. The offeror promises to pay a sum of money in return for the finder’s performance of a specific act: returning the lost dog.

The offeror can revoke the offer at any time before performance occurs. After performance occurs, the offeror is legally bound to pay the reward. Thus, the offeror of the lost cat ad is obligated to pay $50 to the person who returns her lost cat. Therefore, the acceptance of the unilateral contract in this situation is returning the lost cat.

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Team dynamics in the workplace are important because they impact creativity, productivity and effectiveness. Since group work is integral to organisations, improving group dynamics can lead to better work outcomes, customer satisfaction and an improved bottom line.

Walton's deductible charitable contribution is $8,450, which represents the fair market value of the portion of the bitcoin he donated.

Walton's deductible charitable contribution is $8,450. This amount represents the fair market value of the portion of the bitcoin he donated to the qualified charitable organization. The fair market value is determined based on the value of a full bitcoin at the time of donation, which was $33,800.

When individuals donate appreciated assets, such as stocks or cryptocurrencies, to a qualified charitable organization, they can generally claim a deduction for the fair market value of the donated assets. In this case, Walton's donation of 0.25 of the bitcoin is eligible for a deduction based on its fair market value at the time of donation.

The deductible charitable contribution allows individuals to reduce their taxable income by the amount of the donation. By claiming the deduction, Walton can potentially lower his tax liability for the year in which the donation was made. However, it's important to note that there may be certain limitations and rules regarding the deductibility of charitable contributions, so consulting with a tax professional or referring to the applicable tax regulations is recommended.

In summary, Walton's deductible charitable contribution is $8,450, which represents the fair market value of the portion of the bitcoin he donated. This deduction can potentially provide tax benefits by reducing his taxable income for the year of the donation.

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A business computer authenticates a user based on factors such as username and password, biometric data, security tokens, and two-factor authentication.

In the context of business computers, authentication is the process of verifying the identity of a user. It ensures that only authorized individuals can access sensitive information and perform certain actions. Business computers employ various methods to authenticate users:

By employing these authentication methods, business computers ensure that only authorized individuals can access sensitive data and protect against unauthorized access.

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Answer:

Apr = 11.11%

Explanation:

Given:

Discounted amount = $5,000

Number of year = 1

Quoted rate = 10%

Find:

APR

Computation:

Actual loan amount = $5,000[100%/(100%-10%)]

Actual loan amount = $5,000[100%/(90%)]

Actual loan amount = $5,555.56

A = P(1+r)¹

5,555.56 = 5,000( 1 + r )

1.1111 = 1 + r

APR = 0.1111

Apr = 11.11%

Answer:

You should invest in US bonds because you will be able to earn a higher return than if you build and sell microwaves.

Explanation:

alternative 1, build and sell microwave ovens:

initial outlay = $500,000

net cash flow per year = $225,000 - $200,000 = $25,000

alternative 2, invest in US securities:

investment = $500,000

net cash flow per year = $500,000 x 10% = $50,000

Opportunity costs are the benefits lost or extra costs resulting from choosing one activity or investment over another.

If you choose to build and sell microwaves, you will not be able to invest in bonds, and therefore, your net income will decrease by $25,000 - $50,000 = -$25,000.

Instead, if you invest in bonds and not microwaves, your net income will increase by $50,000 - $25,000 = $25,000.

You should invest in US bonds because you will be able to earn a higher return than if you build and sell microwaves.

alternative 1, build and sell microwave ovens:

initial outlay = $500,000

So,

net cash flow per year = $225,000 - $200,000 = $25,000

now

alternative 2, invest in US securities:

investment = $500,000

net cash flow per year = $500,000 x 10% = $50,000

In the case when  you choose to build and sell microwaves, you will not be able to invest in bonds, and therefore, your net income will decrease by $25,000 - $50,000

= -$25,000.

Now

Instead, if you invest in bonds and not microwaves, your net income will increase by $50,000 - $25,000

= $25,000.

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Data warehouses that focus on facilitating managerial accounting needs and/or management by exception can be called "Management Information Systems (MIS) Data Warehouses" or "Executive Information Systems (EIS) Data Warehouses."

These types of data warehouses are specifically designed to provide managers with relevant and timely information for decision-making, analysis, and monitoring of business performance. They typically contain aggregated data from various sources, such as operational systems, and provide customized reporting and analysis capabilities to support managerial accounting and exception management processes.

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True. The aggregate supply (AS) curve represents the total quantity of final goods and services that all suppliers in an economy are willing to produce and supply at different price levels

The aggregate supply (AS) curve depicts the total quantity of final goods and services that all suppliers in an economy are willing to produce and supply at different price levels. It represents the relationship between the overall price level in the economy and the total output or GDP that firms are willing to supply. As the price level increases, firms tend to supply more goods and services, resulting in an upward-sloping AS curve. Conversely, as the price level decreases, firms may reduce their production levels, leading to a downward-sloping AS curve in some cases.

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Answer:

1. Consumer.

2. Producer.

3. Transportation.

4. Marketing.

5. Harvesting.

6. Processing.

7. Retail/food service.

Explanation:

Food supply continuum can be defined as a cycle of how livestock (animal products) moves from the producer to the consumers. The main goal of the food supply continuum is to safely provide quality animal products to the consumers.

Basically, the seven (7) steps or segments in the food supply continuum include the following;

1. The segment which is responsible for safe handling of the animal product (beef, pork, lamb) in their homes is the consumer.

2. The producer is responsible for raising a healthy animal.

3. The segment which carries the animal from the farm to the market is transportation.

4. The segment which sells the animal to the packer is marketing.

5. The segment which harvests the animal is harvesting. It involves the slaughtering of the animal.

6. The segment which processes the carcasses into retail cuts is processing.

7. The segment which involves a negotiator is the retail/food service.