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muminat
1 year ago
8

You are shopping for a new car. You find the perfect vehicle and are now applying for a loan from your local bank. Unfortunately

, the bank rejects your application. You are surprised, because you have always paid your bills on time. You decide to examine your credit report. You discover that the credit agency is wrongly reporting that you are delinquent on a credit card bill. You have asked the agency to remove the inaccurate entry, but it has failed to do so.
Business
1 answer:
uranmaximum [27]1 year ago
6 0

The liability faced by the credit agency for its incorrect reporting of your credit history is that  your actual damages, plus an additional amount not to exceed $1,000, plus attorney’s fees.

<h3><u>What is liability?</u></h3>
  • A liability is a debt that a person or business has, typically in the form of money. Through the transmission of economic benefits like money, products, or services, liabilities are eventually satisfied.
  • Liabilities are items that are listed on the balance sheet's right side and consist of debts including loans, accounts payable, mortgages, deferred income, bonds, warranties, and accumulated expenses.
  • Assets and liabilities can be compared. Assets are items you own or owe money to; liabilities are things you owe money to or have borrowed.
  • A liability, in general, is an obligation between two parties that hasn't been fulfilled or paid for.
  • A financial liability is an obligation in the realm of accounting, but it is more specifically characterized by prior business transactions, events, sales, exchanges of assets, or services.

Under the Fair Credit Reporting Act, your damages are not $5,000 only. It is also not actual damages plus or $3,000 plus the attorney's fees.

Know more about liability with the help of the given link:

brainly.com/question/15006644

#SPJ4

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ABC Company’s budgeted sales for June, July, and August are 15,600, 19,600, and 17,600 units, respectively. ABC requires 30% of
igor_vitrenko [27]

Answer:

= $52,050

Explanation:

First, the question is as follows:

Calculate the number of pounds of raw material to be purchased in June

Solution

Step One: We determine what was produced in June and in July  as follows

Budgeted Production = Budgeted sales + The desired closing inventory of finished products - the estimated opening inventory of finished products

  • Budgeted Production in June= $15,600 +  (0.3 x 19,600) - $4,680 (This is the ending inventory figure from May) = $16,800
  • Budgeted Production in July= $19,600 - (17,600 units x 0.3)- $5,880 (this is the opening inventory calculated for June above) = $19,000

Step 2 : Determine the Purchased raw materials for June

  • = (Production in June x 3) + Production in July x 3 x 0.25) - (Production in June x 3 x 0.25)

= 50,400 + $14,250 - $12,600 = $52,050

4 0
3 years ago
Which of the following M&amp;A transaction equations is correct? Review Later Value created = Hard synergies + Soft synergies –
tangare [24]

Answer: Value created = Hard synergies + Soft synergies – Transaction costs

Explanation: M&A transaction equations refers to equations which are used to describe a merging and acquisition process. The value created refers to Return earned from a business beyond initi expectation. Synergies refers to increased efficiency derived from the contribution of resources. It occurs when joint valuation exceeds the sun of each individual's value.

Hard synergies refers to cost saving as a result of pooled resources.

Soft synergies is attributed to increased yield in profit due to higher revenue.

Transaction cost are expenses incurred towards the merging and acquisition process

6 0
3 years ago
How do you determine the acid-test ratio? The sum of cash and short-term investments divided by short-term debt. Current assets
Alex Ar [27]

Answer: The sum of cash, short-term investments and net receivables divided by current liabilities

Explanation: The acid test ratio, also known as the quick ratio, is a liquidity ratio that is used to determine the ability of a company to pay its current liabilities if it rises immediately. It is considered to be more stringent ratio than the current ratio.

It is concluded by dividing those current assets that can be converted into cash immediately with the current liabilities of the company.

Therefore, from the above we can conclude that the correct statement is D.

3 0
3 years ago
A company issued 5%, 20-year bonds with a face amount of $60 million. The market yield for bonds of similar risk and maturity is
Lesechka [4]

Answer:

Total $53.0656 (millions)

Explanation:

We will need to add the present value of the coupon payment

and the present value of the maturity date

<u>present value of the annuity:</u>

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C= 60 million x 5% /2 1.5

time= 20 years 2 payment per year = 40

rate = 6% annual = 0.06/2 = 0.03 semiannually

1.5 \times \frac{1-(1+0.03)^{-40} }{0.03} = PV\\

PV $34.6722

<u>present value of the bonds:</u>

\frac{Maturity}{(1 + rate)^{time} } = PV

Maturity 60

time 40

rate           0.03

\frac{60}{(1 + 0.03)^{40} } = PV

PV        $18.3934

<u>The value of the bond will be the sum of both</u>

PV c $34.6722

PV m  $18.3934

Total $53.0656

7 0
3 years ago
Acquiring and using resources efficiently and effectively in accomplishing organizational goals, falls into which category of th
babymother [125]
The correct answer is management control.
It is one of the three types of the nature of decisions, along with operational control (executing tasks), and strategic planning (long range goals and policies). Management control has to do with allocating resources appropriately so that goals can be met in the future.
8 0
3 years ago
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