You Will Receive a Stream of Payments BEGINNING at the End

question 37

Multiple Choice

You will receive a stream of payments BEGINNING at the end of year 1 and the amount will increase by $10 each year until the final payment at the end of year 5.If the first payment is $50,what amount will you have at the end of year 5 if you can invest all amounts at a 7% interest rate?

• A) $350.00
• B) $374.50
• C) $394.79
• D) $422.43

Comprehend the implications of GST/HST on employee benefits.

Understand the concept and types of flexible benefit programs.

Recognize the legislative aspects of employee benefits in Canada.

Identify the main advantages of using flexible benefit programs for both employers and employees.

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Definitions:

Generally Accepted Accounting Principles

A set of accounting standards and practices that are widely used and accepted in the preparation of financial statements in the United States.

Budgeted Selling

The projected or planned selling expenses over a specific period, often used in financial planning.

Sales Revenue

The primary source of revenue in a merchandising company.

Selling Expenses

Costs incurred directly in the selling of goods or services, such as commissions and advertising.