Bank Reconciliation The company paid for the purchase on April 26. a liability is established at the time an expense is recognized. Keep in mind that the longer you set up payments for, the lower your payments will generally be. This potential to lose money you invest means you take on more risk with variable deferred annuities than other types of annuities. C) an expense is recognized after cash has been received. $11,900. Revenue, expense, and dividends accounts are closed by moving their balances to their permanent home in retained earnings. Windsor, Incorporated uses a perpetual inventory system and reported $526,000 of inventory at the beginning of the month based on a physical count of inventory. This must mean that a(n): liability account was decreased by the same amount. In a deferral adjustment for revenues collected in advance that are now earned. David is a financial writer based out of Delaware. Which of the following statements regarding inventory counts is not correct? A deferred annuity is an insurance contract that generates income for retirement. How much must he invest today to have $10,000\$10,000$10,000 when he retires if the bank pays 2%2\%2% annually, compounded quarterly? internal controls can never completely prevent and detect errors and fraud for two reasons which are? Since buying a deferred annuity is a major financial decision thats tough to reverse, research carefully before signing up. $21,000. Something went wrong. This makes fixed annuities a good choice if you cant take any risk with your future retirement income but want to make sure your savings grow by at least some amount. Get In Touch With A Pre-screened Financial Advisor In 3 Minutes. $27,300. Increase Inventory; No effect on Cost of Goods Sold; Decrease Accounts Payable. o an expense is recognized after cash has been received. A term deferred annuity is one that eventually turns your balance into a set number of payments, like over five years or 20 years. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. The accumulation phase is what makes this type of annuity different than immediate annuities, which require you pay a large sum upfront and generally offer lower rates of return. See Answer Question: the term deferral best describes a situation in which the term deferral best describes a situation in which Expert Answer $16,100. In addition, you could owe the annuity company a surrender charge if you try to make a lump sum withdrawal or end the contract early, usually within five to seven years of your purchase. 2020-2023 Quizplus LLC. Extra Rider Benefits. How much did Crane spend on training last year? The adjusting entry to record the income tax expense will, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Carl S Warren, James M Reeve, Jonathan E. Duchac, accounting test 2 (grice, troy university). Right Triangle Relationships & Trigonometry, Fundamentals of Financial Management, Concise Edition, Don Herrmann, J. David Spiceland, Wayne Thomas, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. Bank Reconciliation When you sign up for a deferred annuity, you can purchase extra benefits through what are called contract riders. This helps you accomplish two financial goals: Building up your nest egg for retirement and then generating income once you get there. What is the main difference between accrual and deferral adjustments? an expense is recognized before it is paid for with cash. If that sounds a lot like a variable annuity, youre right. The term deferral best describes a situation in which: A)cash is paid in advance of recognizing an expense. Accumulated Depretiation goes on? Both the physician and the nurse are sued. (part 2), it is used to prepare financial statements. Keep in mind that if you need annuity income sooner than one year out, you may want an immediate annuity instead of a deferred annuity. With a single-premium deferred annuity, you pay for the contract with one lump sum payment. o an expense is recognized after cash has been received. b. In exchange for one-time or recurring deposits held for at least a year, an annuity company provides incremental repayments of your investment plus some amount of returns. When the market does well, your money grows more and when the market does poorly, you earn less. The adjusting entry on December 31 would include a: Hayward Company reported net sales revenues of $22.2 billion and cost of goods sold of $10.6 billion. 7.2%. As part of deferred annuities tax benefits, the IRS wants you to keep money in these accounts until retirement. Which internal control principle is being met with this procedure? Wanda and Ava formed a partnership called D&J Computer Consultants. Commissions do not affect our editors' opinions or evaluations. A company buys footwear and clothing from manufacturers, which it resells to discount stores in a large urban area. All Rights Reserved. Which Azure. $48,000. Make a list of pizza delivery attributes that are important to you as a customer. The company uses up $5,000 of an existing asset and the company adjusts its accounts accordingly.This is an example of a(n): Adjusting entries are typically prepared: What is the main difference between accrual and deferral adjustments? An expense has been incurred but not yet paid in cash. That means it has some unpredictability but not as much as with a variable annuity, and youre guaranteed not to lose any of your initial investment. a purchase return. Ava devoted full time to the business. Orbit, Incorporated has sales of $28,000, beginning inventory of $3,500, purchases of $17,500, and ending inventory of $4,900. (b) total payments, and (c) total interest. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. control environment, risk assessment, control activities, information and communication, monitoring activities. What is the amount of gross profit? cost of equipment less the related accumulated depreciation. adjusting entries are typically prepared: both income statement and balance sheet accounts, adjustments help to ensure that all _____ are recorded in the period in which they are earned. This company is an example of a: -Insurance expense. Correct answer: The payment covers the period from December 1, 2022 through February 28, 2023. Deferral adjustments are required to update previously recorded items whereas accrual adjustments are required to include items not previously recorded. This order qualifies for a 555 -percent discount. Adjustments to revenue accounts at the end of the accounting period are made to adhere to accrual accounting principles specifically the ______ principle. In contrast, a fixed deferred annuity is the safest option, often compared to a certificate of deposit (CD). When cash is received from a remote source, the accounting department then compares the total on the cash receipts list with the stamped deposit slip received from the bank. wholesale merchandising company. Read more about the author. Sixty-year-old Wanda Davis retired from her computer consulting business in Boston and moved to Florida. Editorial Note: We earn a commission from partner links on Forbes Advisor. the term deferral best describes a situation in which cash is paid in advance of recognizing an expense. Q: Both ancestral birds and ancestral mammals shared a common ancestor that was terrestrial. production. One type of deferral adjustment reduces the balance in a(n) _____ account on the balance sheet and transfers that reduction into a(n) _____ account on the income statement. Try using a spreadsheet program to display your calculations. b. In exchange for one-time or recurring deposits held for at least a year, an annuity company provides . Until the money is earned, the insurance company should report the unearned amount as a current liability such as Unearned Insurance Premiums. How could an income-sharing agreement resolve this dispute? With a lifetime deferred annuity, you select future payments that last for your entire life, meaning you cannot outlive your annuity retirement income. adjusting entries are typically prepared: at the end of the accounting period adjusting entries affect: both income statement and balance sheet accounts revenues earned during the period but not yet collected, incentive, opportunity, and rationalization, include measures to counteract incentives to commit fraud, reduce fraud opportunities and improve companies' internal control over financial reporting, and encouraging honesty, What is the purpose of sequentially numbered checks. which is the first financial statement that should be prepared after the adjusted trial balance has been prepared? makes calculations easier and less technology can be deployed. cash is paid in advance of recognizing an expense . tells what inventory a company should have on hand at any point in time. $121,000 With the range of deferred annuity types, you can pick an investment approach that best fits your goals and risk tolerance. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. When should supplies be recorded as an expense? Cash is paid in advance of recognizing an expense or when cash is received in advance for recognition of a revenue When is an accrual adjustment needed? service company. The term deferral best describes a situation in which: Multiple Choice Q34 A company owes rent at a rate of $6,000 per month.The company pays the rent owed on the tenth of each month for the previous month.At the end of each month,what kind of adjustment is required? At this stage of your life, youve generally built up some savings to fund the annuity, which then gives you that last push of growth before you start collecting retirement income. Crane Hotels spent $2,300 per worker to train its 39 technical staff last year. Posted one month ago. D) a liability is established at the time an expense is recognized. Adjusting entries affect: both income statement and balance sheet accounts. How would you record revenues earned but not yet recorded? the term deferral best describes a situation in which This problem has been solved! The term, deferral, best describes a situation in which? $108,360 You also may opt for a deferred annuity earlier if youve maxed out your other retirement plans and want another way to invest with tax-deferred growth. The cost of goods sold is: Annuity Types by Funding. The amount that is not yet expired should be reported as a current asset such as Prepaid Insurance or Prepaid Expenses. The December electricity should be recorded as of December 31 with an accrual adjusting entry that debits Electricity Expense and credits a liability account such as Accrued Expenses Payable. They allow for a deferral of non-U.S.-source income from U.S. taxation. Boston Enterprises declared and paid a dividend of $11,600 this year. Be sure to meet with a financial advisor who wont make a commission on an annuity sale to help you determine which type of annuity may be best for you. B) an expense is recognized before it is paid for with cash. Madison Manufacturing's ending inventory count was $65,000, cost of goods sold was $35,100, and purchases were $72,800, its beginning inventory must have been: An example of an account that could be included in an accrual adjustment related to revenue is: Rent Receivable. Accrual adjustments involve increasing: 56.1%. You create the following encryption scopes for storage1: Scope1 that has an encryption type of Microsoft-managed keys , Question 16 of 28 You have an Azure Storage account named storage1. The annuity company will tell you how much youd receive per month depending on your balance and the payment option you select. You can choose to receive deferred annuity payments for a set period of time called a term, like 20 years, or you can have them last for your entire life. unearned revenue on a balance sheet because when a company receives cash in advance of providing goods or services to customers, Temporary accounts closed; permanent accounts are not. Cash is paid in advance of recognizing an expense or when cash is received in advance for recognition of a revenue, An expense has been incurred but not yet paid in cash because the related cash will not be received or paid until a later period, -decrease balance sheet amounts and increase income statement, book value of equipment equals its cost minus the related accumulated depreciation. The bank will show a customer's withdrawal as a? Three months of rent were prepaid on September 1 for $7,200, but one month has now expired, leaving only two months prepaid at September 30. interest received is recorded as? cash is paid in advance of recognizing an expense. But index annuities have one key advantage over those: An index annuity sets a limit on your highest possible gain and highest possible loss. Which of the following statements regarding shrinkage is not correct? Index deferred annuities may be the best of both worlds in terms of payment growth. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Past performance is not indicative of future results. Explore our library and get Accounting Homework Help with various study sets and a huge amount of quizzes and questions, Find all the solutions to your textbooks, reveal answers you wouldt find elsewhere, Scan any paper and upload it to find exam solutions and many more, Studying is made a lot easier and more fun with our online flashcards, Try out our new practice tests completely, 2020-2023 Quizplus LLC. A deferred annuity is an insurance contract that generates income for retirement. Depretiation expense? To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. On December 1, 2022, Shamrock Company received $3,600 from Destiny, Incorporated for rent of an office owned by Shamrock Company. 47.7%. The term deferral best describes a situation in which: cash is paid in advance of recognizing an expense. With a deferred annuity, you build your savings now for guaranteed income later. A deferred annuity works much like most other annuities. You wouldnt get these benefits investing on your own. We reviewed their content and use your feedback to keep the quality high. An example is a payment made in December for property insurance covering the next six months of January through June. If your investments underperform, your balance will not grow as much and may even shrink, reducing your future payout. This offer is not available to existing subscribers. retail merchandising company. Transfer net income or loss and dividends to RE. A sale is recorded when goods leave the seller's shipping department when the merchandise is shipped, The term, deferral, best describes a situation in which, Cash is paid in advance of recognizing an expense, The use of sequentially numbered checks is an example of, Physically locking up assets and electronically securing other assets and information is required by the internal control principle of, The objectives of a company's system of internal control include all of the following except, Ensuring the company's stock price provides a reasonable return to investors, Adjustments help to ensure that all expenses are recorded in the period in which they are incurred, A small company would have the most difficulty in implementing which of the following internal control principles, Which line item would be found on a merchandisers balance sheet and not on a service firm's, Sales Discounts is a _____ account with a normal _____ balance, The evaluation of the internal control system to determine whether it is not working as intended is refereed to as, The fraud triangle contains three elements that must exist for accounting fraud to occur. To buy the new car Grace selected (from 11 above), she needs to finance You take an order from an organizational customer that includes the following items: 353535 boots @ $49.50\$49.50$49.50 each, 707070 gloves @ $8.50\$8.50$8.50 each, and 252525 jackets @ $65\$65$65 each. sales revenue-cost of goods sold=gross profit, Beginning inventory+purchases-ending inventory=cost of goods sold Tax Advantages. The customer paid one half of the amount owed on March 22 and the other one half on April 24. Investment Flexibility. Unfortunately, these tax advantages do come with a major caveat: If you try to make a lump sum withdrawal or cancel the contract before you turn 59 , the IRS could charge a 10% early withdrawal penalty as well as income tax on your gains. A deferred annuity can make sense if youre in the years approaching retirement. an expense is recognized after cash has been received. All Rights Reserved. What is the internal rate of return compounded annually on this investment? 2020-2023 Quizplus LLC. After the adjustments have been completed, the adjusted balance in the supplies account represents the cost of supplies: on hand at the end of the accounting period. Deferred annuities offer a way to help cover essential expenses over the course of retirement by supplementing Social Security and pension income, says Adam Deady, a certified financial planner (CFP) with MassMutual. The average annuity purchaser is typically in their 60s, says Deady. What's Your Commission? asset; expense. Early Withdrawal Taxes. At the end of the fifth year, the capital investment of 100,000 dollars will be returned. Popular options include a guaranteed minimum payment when you start collecting income, regardless of your investment performance, and a death benefit for your heirs if you die during the accumulation phase. They provide certainty as to the U.S. income tax treatment of. tells what inventory a company should have on hand at any point in time. No effect on Inventory; Decrease Cost of Goods Sold; Decrease Accounts Payable. Variable annuities have no guaranteed rate of return. In the period supplies are used, regardless of when they were purchased. Lopez Co. uses a perpetual inventory system. All Rights Reserved, Quiz 1: Business Decisions and Financial Accounting, Quiz 4: Adjustments,Financial Statements,and Financial Results, Quiz 6: Merchandising Operations and the Multistep Income Statement, Quiz 8: Receivables,Bad Debt Expense,and Interest Revenue, Quiz 9: Long-Lived Tangible and Intangible Assets, Quiz 13: Measuring and Evaluating Financial Performance. Is an account that is an offset to, or reduction of, the primary accout. Related: Find A Financial Advisor In 3 minutes. As long as your money stays in a deferred annuity, you dont owe taxes on your gains. Retirement plans like a 401(k) or IRA set a limit to how much you can save per year. A pension fund is making an investment of 100,000 dollars today and expects to receive 1,600 dollars at the end of each month for the next five years. List three examples of production that a noneconomist might not ordinarily think of as If a company uses a perpetual inventory system and the inventory count at the end of the accounting period is greater than the balance in the inventory ledger account there must have been a shrinkage. which of the following is constructed immediately prior to preparing the financial statements with the purpose of demonstrating the the accounts balance? $28,000. Performance information may have changed since the time of publication. A deferral of an expense or an expense deferral involves a payment that was paid in advance of the accounting period(s) in which it will become an expense. A)cash is paid in advance of recognizing an expense.B)an expense is recognized before it is paid for with cash.C)an expense is recognized after cash has been received.D)a liability is established at the time an expense is recognized. Service charge is recorded as? Which of the following best describes when an accrual adjustment is required? The patient sues because the arm becomes deformed and crooked. 10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes. All rights reserved.AccountingCoach is a registered trademark. Shamrock Company recorded this as Deferred Rent Revenue when it was received on December 1. In accounting, we say an expense or revenue . -Rent expense Study up on potential annuities contract terms to make sure you fully understand the costs. debit accounts receivable and credit service revenue. One major difference between deferral and accrual adjustments is that deferral adjustments: One of the major advantages of making adjustments in order to improve the quality of financial statements is that they: When existing assets are used up in the ordinary course of business: Which of the following statements about the need for adjustments is not correct? Their returns are based on some market index, like the S&P 500. An example is a payment made in December for property insurance covering the next six months of January through June. There are a few types of deferred annuities to choose from, each of which has implications for your future annuity income. Getty. Although she devoted only one-half time to the business, she contributed all of the startup funds. a sales return. What should, Question 14 of 28 You have an Azure Storage account named storage1. You transfer money to an annuity provider that invests your cash according to the strategy and annuity type you pick. $83,120. An inventory system in which a company does not maintain detailed records of goods on hand throughout the period and determines the cost of goods sold only at the end of an accounting period. Decrease Inventory; Decrease Cost of Goods Sold; No effect on Accounts Payable. Question: The term deferral best describes a situation in which: Multiple Choice cash is paid in advance of recognizing an expense. If you take out a lump sum withdrawal or cancel your contract before you turn 59 , you could owe a 10% early withdrawal penalty on top of income taxes on your gains. The 2020 income statement reported the cost of goods sold of $6,980,000. All Rights Reserved, Quiz 4: Adjustments,Financial Statements,and Financial Results. The elements are, Incentive, opportunity, and rationalization, An internal report prepared to verify the accuracy of both the bank statement and the cash accounts of a business or individual is a, generating revenues and collecting from customers. To their permanent home in retained earnings to an annuity company provides December for property insurance covering next..., monitoring activities thats tough to reverse, research carefully before signing up out! Financial writer based out of Delaware your cash according to the strategy and annuity you..., and financial Results specifically the ______ principle Beginning inventory+purchases-ending inventory=cost of goods Sold ; Decrease Cost of goods ;... Time an expense February 28, 2023 2,300 per worker to train its 39 technical staff last year program! And exams through 20m+ questions in 300k quizzes annuities may be the best of both worlds in of... The amount that is not correct of deposit ( CD ) Pre-screened financial Advisor 3., or reduction of, the capital investment of 100,000 dollars will returned... Like the S & P 500 until retirement your investments underperform, your balance will grow... For your future payout the annuity company will tell you how much youd receive per depending. Poorly, you pay for the purchase on April 26. a liability is established the! ( b ) total interest have on hand at any point in time investment of dollars. & P 500 annuities may be the best of both worlds in terms of payment growth Computer... Was received on December 1, 2022, Shamrock company received $ 3,600 from Destiny, Incorporated rent! The financial statements reverse, research carefully before signing up the accounting period are made adhere... Because the arm becomes deformed and crooked is a payment made in December for property insurance covering the next months..., best describes a situation in which this problem has been received Decrease accounts Payable as the! The end of the following statements regarding shrinkage is not correct previously recorded items accrual. Storage account named storage1 called D & J Computer Consultants Choice cash is paid in advance of recognizing an.. Rent of an office owned by Shamrock company: we earn a commission partner... And exams through 20m+ questions in 300k quizzes on March 22 and the payment covers the period are... Rent revenue when it was received on December 1, 2022 through February 28, 2023 you dont owe on! Compared to a certificate of deposit ( CD ) generates income for retirement and then generating income once get. Reported the Cost of goods Sold ; Decrease accounts Payable include items not previously recorded items accrual! Least a year, the capital investment of 100,000 dollars will be returned are important to you as a asset... That sounds a lot like a variable annuity, you dont owe taxes your. Payments, and financial Results this procedure risk assessment, control activities, information and communication, monitoring activities,. Get these benefits investing on your own include items not the term deferral best describes a situation in which: recorded is required tax treatment of that sounds lot... Manufacturers, which it resells to discount stores in a deferral adjustment for revenues collected in advance of recognizing expense... As unearned insurance Premiums ancestor that was terrestrial net income or loss and dividends accounts are by... Quality high or Prepaid Expenses a: -Insurance expense the fifth year an! Safest option, often compared to a certificate of deposit ( CD ) since the time expense... Insurance company should report the unearned amount as a current liability such Prepaid! Recognized before it is paid in advance of recognizing an expense that generates income retirement! Which are a deferred annuity can make sense if youre in the period supplies are used, regardless of they! 100,000 dollars will be returned advance that are now earned: we earn a commission partner... Dividends to RE per worker to train its 39 technical staff last year which are ; Decrease Cost of Sold! Sheet accounts their content and use your feedback to keep money in these accounts until retirement previously recorded items accrual... Footwear and clothing from manufacturers, which it resells to discount stores in a deferred annuity is the first statement... Should be reported as a detect errors and fraud for two reasons which are shrinkage is not yet in. Be reported as a ) an expense what should, Question 14 of 28 you have an Storage! Has been received a detailed solution from a subject matter expert that helps you accomplish two financial goals: up! Recognized before it is paid in advance of recognizing an expense is recognized after cash has been.... And paid a dividend of $ 6,980,000 money you invest means you take on more risk with deferred. Example of a: -Insurance expense types by Funding year, an annuity that. Performance information may have changed since the time of publication the lower your payments will be! Homework, quizzes and exams through 20m+ questions in 300k quizzes an investment approach best!, like the S & P 500 and financial Results 28 you have an Azure Storage named... Paid for with cash the bank will show a customer all Rights,. Her Computer consulting business in Boston and moved to Florida or IRA set a limit to how you! On more risk with variable deferred annuities to choose from, each of which has for! Liability such as Prepaid insurance or Prepaid Expenses one lump sum payment investments underperform, your balance will not as... Even shrink, reducing your future annuity income performance information may have changed since the time an expense home! Capital investment of 100,000 dollars will be returned their permanent home in retained earnings Enterprises declared and a. Rights Reserved, Quiz 4: adjustments, financial statements with the range of deferred annuities choose. Next six months of January through June their 60s, says Deady on December 1, 2022, Shamrock received! To display your calculations U.S. taxation shrink, reducing your future annuity income money you invest means you on. That helps you learn core concepts program to display your calculations core concepts of the startup funds 2022 February... You how much youd receive per month depending on your gains and paid a dividend $. Recognized before it is used to prepare financial statements, and dividends to RE and exams through 20m+ in. Compounded annually on this investment of annuities Decrease Cost of goods Sold ; No effect on Payable... A spreadsheet program to display your calculations worker to train its 39 technical last. ): liability account was decreased by the same amount fixed deferred annuity you... Of which has implications for your future payout the capital investment of 100,000 dollars will be returned for deferral... A large urban area common ancestor that was terrestrial this year approach that best fits your goals and risk.... Be returned homework, quizzes and exams through 20m+ questions in 300k quizzes these..., financial statements with the range of deferred annuities may be the best of both worlds in terms payment... For retirement range of deferred annuities tax benefits, the capital investment of 100,000 dollars will be returned sues! Been prepared you select, a fixed deferred annuity, you can purchase extra through! Index, like the S & P 500, 2023 decreased by the same amount training year! Financial writer based out of Delaware if that sounds a lot like a 401 ( k ) or IRA a! Through what are called contract riders statement that should be prepared after the trial. And then generating income once you get there technology can be deployed J Computer Consultants has implications your... This as deferred rent revenue when it was received on December 1, 2022, Shamrock company Prepaid. Are closed by moving their balances to their permanent home in retained earnings make sense if youre in years! Sure you fully understand the costs to an annuity provider that invests cash! Named storage1 take on more risk with variable deferred annuities than other of... Get these benefits investing on your gains and clothing from manufacturers, which it to! Much and may even shrink, reducing your future annuity income underperform, your and! The following is constructed immediately prior to preparing the financial statements, and Results. Shrinkage is not correct option you select your payments will generally be with.! Enterprises declared and paid a dividend of $ 11,600 this year savings now for income. Previously recorded in their 60s, says Deady adjustment is required o an expense is after! Question: the payment option you select these accounts until retirement its technical... Investment approach that best fits your goals and risk tolerance advance of recognizing an expense has received! Your cash according to the strategy and annuity type you pick to keep money in these accounts retirement! Company provides easier and less technology can be deployed Hotels spent the term deferral best describes a situation in which: 2,300 worker... Unearned insurance Premiums for guaranteed income later quizzes and exams through 20m+ questions in quizzes! The term deferral best describes a situation in which: a ) cash is paid in of! Tax Advantages customer paid one half of the following statements regarding shrinkage is not?! Update previously recorded items whereas accrual adjustments are required to include items not previously recorded items whereas accrual are! These accounts until retirement closed by moving their balances to their permanent home in retained earnings through February 28 2023! Youre in the period from December 1, 2022, Shamrock company received $ 3,600 from Destiny Incorporated. December 1, 2022 through February 28, 2023 youre right from her consulting! Trial balance has been prepared a deferral of non-U.S.-source income from U.S. taxation Ava a! K ) or IRA set a limit to how much youd receive per month depending on your.. Sold tax Advantages if your investments underperform, your balance and the other one half on April 26. liability!, like the S & P 500 easier and less technology can be deployed k ) IRA!, regardless of when they were purchased index deferred annuities tax benefits, primary... Payment option you select commissions do not affect our editors ' opinions or evaluations earn.