Brigid An “interest-crediting method” is the way in which interest is credited to an annuity. There are three main types of interest-crediting methods: 1. Fixed interest rate: With this method, the interest rate is fixed for the life of the annuity. This means that the interest credited will never change, regardless of what happens to interest … Read more
Explicit costs are those costs that are incurred by a company for the purpose of producing a good or service. These costs include raw materials, labor, and other direct costs associated with production. Explicit costs are also known as “direct costs.” Are wages implicit costs? Yes, wages are considered to be an implicit cost. This … Read more
Uncollected funds are funds that have been deposited into a bank account but have not yet been cleared by the bank. This can happen for a variety of reasons, but typically it is because the check or other deposit instrument has not yet been presented to the bank for payment. When this happens, the funds … Read more
