Financial institutions play an important role in the U. S. economy by: A. printing paper money and minting coins. B. investing money in new businesses C. collecting taxes for state governments D. setting minimum wage rates for workers.

Wilson company paid $5,000 for a 4-month insurance premium in advance on november 1, with coverage beginning on that date. the balance in the prepaid insurance account before adjustment at the end of the year is $5,000, and no adjustments had been made previously. the adjusting entry required on december 31 is: (a) debit cash. $5,000: credit prepaid insurance. $5,000. (b) debit prepaid insurance. $2,500: credit insurance expense. $2500. (c) debit prepaid insurance. $1250: credit insurance expense. $1250. (d) debit insurance expense. $1250: credit prepaid insurance. $1250. (e) debit insurance expense. $2500: credit prepaid insurance. $2500.

Match each economic concept with the scenarios that illustrates it

Present values. the 2-year discount factor is .92. what is the present value of $1 to be received in year 2? what is the present value of $2,000? (lo5-2)