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Rama09 [41]
3 years ago
9

Sienna has a car loan with an annual interest rate of 4.8%. She will make the same monthly payment for 48 months, after which th

e loan will be paid back. Diego says that Sienna’s loan is an example of closed-end credit while Sienna says it is an example of open-end credit. Which statement about the loan is true?
Business
2 answers:
butalik [34]3 years ago
9 0

Diego is correct because the loan has to be paid in full by a specific date.

vfiekz [6]3 years ago
3 0

Answer:

The answer is: Diego is correct, this is a closed-end loan.

Explanation:

A closed-end credit has to be repaid in full by a specific date, in this case 48 months.

An open-end credit is a loan that can be borrowed after it is repaid, they are also called revolving credits. If this was a revolving credit, after paying her car loan Sienna would be able to get the same loan again.

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Trust Company applies overhead based on direct labor hours. At the beginning of the year, Trust estimates overhead to be $700,00
Svetradugi [14.3K]

Answer:

$100,000

Explanation:

Data provided in the question:

Estimated overhead = $700,000

Estimated machine hours = 200,000

Estimated Direct labor hours = 35,000

Direct labor hours for February = 5,000

Now,

The Predetermined Overhead Rate is calculated as

= ( Estimated Overhead Cost ) ÷ ( Estimated Direct Labor hour )

or

Predetermined Overhead Rate = $700,000 ÷ 35,000

or

Predetermined Overhead Rate = 20 per direct labor hour

Therefore,

The amount of overhead applied for February

= Predetermined Overhead Rate × Direct labor hours for February

= 5,000 × $20

= $100,000

6 0
3 years ago
When peter metcalf describes black diamond's manufacturing facility in china as a "greenfield project, he means that . of all ma
Stolb23 [73]
The answers are as follows:
1. When Peter Metcalf describes black diamond manufacturing facility in China as 'greenfield project', he means that BLACK DIAMOND BUILT THE PLANT AND OWNS IT COMPLETELY. Of all market entry strategies, this one carries the HIGHEST risk.
A greenfield project refers to a new facility or industrial plant that is built in a location where no such facility exist before. This means that such companies are usually the first of its kind in that environment. Such investment usually involves huge amount of money and other resources as the company has to build from scratch up. This type of market entry is considered to be very risky because it involves a lot of money and all this could be lost if things don't work out as planned. 

2. The following advice should be given to Peter, Thomas and Wim:
I. Recruit local people to work as sale people and distributors.
II. Research what people with annual income of less than US $1,500 really need.
III. Assign Research and Development the project of developing gears that meet the basic needs for warmth and dryness but can be manufactured inexpensively.
Since these three people intend manufacturing for people of lower income in the society, they have to take the above listed steps in order to reduce the amount of money spent during the production process and distribution period so that they will be able to make profits from the venture.
4 0
3 years ago
Assume Royal Palm Corp., an equipment distributor, sells a piece of machinery with a list price of $800,000 to Arch Inc. Arch In
Alexandra [31]

Answer:

a. $720,000

Explanation:

Since in the question, it is given that the equipment is sold at the list price

The list price is $800,000 and the selling percentage is 90%

So, the revenue should be recorded

= List price × selling percentage

= $800,000 × 90%

= $720,000

Simply we multiplied the list with the selling percentage so that the correct amount can come

3 0
3 years ago
Period costs are a.classified as direct labor, direct material, or factory overhead b.not involved in the production process c.f
goldfiish [28.3K]

Answer:

Not involved In the production process

Eg. Selling expenses or advertising expenses

3 0
3 years ago
The determinants of aggregate demand Multiple Choice explain shifts in the aggregate demand curve. explain why the aggregate dem
tamaranim1 [39]

Answer:

shifts in the demand curve

Explanation:

Aggregate demand is total value of goods and services demanded at a particular time in an economy. It indicate goods and services that will be bought at different prices.

The determinants of aggregate demand are factors that could cause shift in aggregate demand curve either to the left or right. A shift in aggregate demand curve to the right means an increase in quantity demand while a shift to the left means a decrease in quantity demand at every price level.

The determinants are ;

Price of the goods - An increase in price of the goods itself will bring about shift in the demand curve to the left and vice versa

Consumer expectations- When consumers expect price of goods to be high, demand curve would shift to the right and vice versa.

Price of related goods- An increase in price of related or complementary good would cause the demand to either shift to the left or right.

Income of the buyers - Increase in come of buyers would shift the demand curve to the right and vice versa.

Taste or preference of consumers- When consumer's preference shift in favour of a product, demand for such product would increase thus shifting the demand curve to the right.

3 0
3 years ago
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