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mafiozo [28]
1 year ago
12

Amounts collected by the lender and held in a trust or impound account for future payment are called what?

Business
1 answer:
Aleonysh [2.5K]1 year ago
5 0

The amounts collected by the lender and held in a trust or impound account for future payment are called Reserves.

Reserves are earnings that have been appropriated or set apart, for use for a selected cause in addition down the road. A few examples of specific reserves include capital redemption reserves, contingency reserves, debenture redemption reserves, and dividend equalization reserves. each of these reserves has a particular purpose, but, if important, specific reserves can every so often be used for bills that are not their meant functions.

Reserves may be funded by way of annual working surpluses, or thru a funding plan. These price ranges are considered to be "savings bills" so no fees can be charged without delay to them; the simplest transfer object codes must be utilized to reserve money owed.

A lender is a man or woman, a set (public or non-public), or an economic institution that makes finances available to a person or business with the expectation that the price range could be repaid. Compensation will include the charge of any hobby or costs.

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Organizational purpose serves as the basis for an organization's ______. (select all that apply)
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An organizational purpose serves as the basis for an organization's:

  • mission
  • culture
  • core values

<h3>What is an organizational purpose?</h3>

This refers to an firm's reason to exist that aligns with its long-term financial performance, provides a clear context for daily decision making, unifies and motivates it relevant stakeholders

Hence, the organizational purpose serves as the basis for an organization's mission, culture and core values.

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1 year ago
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Tom oversees the logistics department for a holiday resort in Virginia. He has created a plan to bring in customers directly fro
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Answer:

agents

Explanation:

Tourism uses agents to commercialize the travel packages.

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3 years ago
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Three critical activities occur during group socialization that affect the productivity of teams, and they are:
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<span>Group socialization is focused team members to be able to work together and coordinate their efforts.</span><span>The three critical activities that occur during group socialization and affect the productivity of teams are:
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3 years ago
On January 1 of Year 1, Bryson Company obtained a $147,750, four-year, 7% installment note from Campbell Bank. The note requires
Murljashka [212]

Installment note from Campbell Bank.

1-Jan Note intt expense Decrease 31-Dec

Amortization of Installment Notes Carrying payment 7% in  Carrying

Year ending December 31   amount cash paid   notes payable amount

               

year 1       147,750 43,620 10343 33,278 114,473

year 2       114,473 43,620 8013 35,607 78,866

year 3       78866 43,620 5521 38,099 40,766

year 4       40766 43,620 2854 40,766 0

               

               

               

b)   Journal Entries          

 Date Account titles & Explanations     Debit Credit

               

year 1 1-Jan Cash         147,750  

   Notes payable         147,750

   (to record issuance of note)        

               

year 1 31-Dec Interest expense       10343  

   Notes payable       33,278  

   cash           43,620

   (to record interest expense)        

               

year 2 31-Dec Interest expense       8013  

   Notes payable       35,607  

   cash           43,620

   (to record interest expense)        

               

year 3 31-Dec Interest expense       5521  

   Notes payable       38,099  

   cash           43,620

   (to record interest expense)        

               

year 4 31-Dec Interest expense       2854  

   Notes payable       40,766  

   cash           43,620

   (to record interest expense)        

               

c) interest expense of  10,343 would be reported on the income statement of Bryson Company.

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2 years ago
Keynes believed that wages and prices were sticky. Therefore, a rightward shift of the aggregate demand curve would cause a(n)
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Increase aggregate demand. Keynes believed that wages and prices were sticky. Therefore, a rightward shift of the aggregate demand curve would cause a(n).
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