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3 years ago

Which of the following is not true of credit card

Business

2 answers:

patriot [66]3 years ago

8 0

Answer:

The false statement is letter "A": they are the best payment type to use when trying to stick to budget.

Explanation:

Credit cards are payment devices given to people who have proved to maintain an optimal credit history. Though, banks and financial institutions give them to people to generate income through <em>interest rates</em>. If someone wants to keep their expenses under a budget, it is not convenient to use credit cards as methods of payments since it will increase the amount of money the cardholder must spend because of the interest rate.

grandymaker [24]3 years ago

7 0

. they are the best payment

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Can someone please help me with this question!

Dafna1 [17]

Answer:

I think you got it right*

Explanation:

I think this is the same question I took.

6 0

2 years ago

According to Redpath and Greg Urban, what is the threshold amount for determing if a substantial basis adjusment is mandatory?

Nataly_w [17]

Answer: According to Ian Redpath and Greg Urban, the threshold amount required for conclusively stating whether a substantial basis adjustment is mandatory is $250,000. The amount required is $250,000 in order for one to know whether they are in need for a substantial basis reduction or maybe not. It's required when the amount indeed exceeds $250,000.

5 0

3 years ago

Read 2 more answers

Vasco Company purchased equipment on January 1, 2001 at a purchase price of $50,000. Vasco paid $2,500 in shipping costs on the

Lynna [10]

Answer:

The amount of depreciation expense is $3,871.86.

Explanation:

Sum-of-the-years digits method is determined by: (Remaining useful life/Sum of the years' digits) x Depreciable cost.

Depreciable cost = Cost - Salvage value

Depreciable cost = $50,000 + $2,500 - $5,000 = $47,500

Insurance premium is usually for a period of 1 year. This will be treated as prepayment instead of being added to the cost of the equipment. Shipping cost is added based on the recommendation of IAS 16 Property, Plant and Equipment.

Depreciation expense = 6/21 x $47,500 = $13,571.43 for Year 2001

Depreciation expense = 5/21 x $47,500 = $11,309.52 for Year 2002

As at December 2002, the accumulated depreciation will be $13,571.43 + $11,309.52 = $24,880.95; so, net book value is $52,500 - $24,880.95 = $27,619.05.

Change in estimate: 8/55 x $27,619.05 - $1,000 = $3,871.86.

55 = 10+9+8+7+6+5+4+3+2+1

7 0

3 years ago

Faruq spends all of his income on two goods: tacos and milkshakes. His income is $100, the price of tacos is $10, and the price

ANTONII [103]

Answer:

Explanation:

Amount he can spend on tacos = income - total price of milkshakes

total price of milkshakes = 2 x 10 = 20

100 - 20 = 80

quantity of tacos = 80 / 10 = 8

8 0

2 years ago

Payton Inc. r reports in its 2017 annual report 10-K, sales of $8,180 million and cost of goods sold of $3,272 million. For next

jek_recluse [69]

Answer:

C. $3,454 million

Explanation:

Calculation to determine what the Projected cost of goods sold for 2018 will be:

2018 Projected cost of goods sold = [(8,180*1.03)*(3,272/8,180)+1%)]

2018 Projected cost of goods sold = (8,425 * (0.40+1%)

2018 Projected cost of goods sold= 3,454 million

Therefore Projected cost of goods sold for 2018 will be: $3,454 million

5 0

2 years ago