Answer:
True
Explanation:
Collateral is an asset used as a guarantee or security for the payment of a loan. It assures the lender that a borrower will pay back the loan.
If an entrepreneur applies for a business loan, the bank will most likely demand collateral. The entrepreneur will need to offer an asset, either property or motor vehicle, that will act as a guarantee for the loan. Should the entrepreneur fail in repayment, the bank can sell the asset to recover their money.
Few, if any, will lend anyone money based on a business idea alone. Many banks will demand a business proposal to be backed with some guarantee to secure funding.
Answer:
total liabilities = $169,008
Explanation:
total liabilities:
- Accounts Payable: $19,207
- Discount on Bonds Payable: ($7,000) ⇒ contra liability account
- Sales Tax Payable: 3,512
- FICA Tax Payable: 3,200
- Bonds Payable: 100,000
- Note Payable, due in two years 1,709
- Unearned Service Revenue 30,500 ⇒ must be reported as a liability
- Salaries and Wages Payable 17,880
to determine the total liabilities we just have to add both current and long term liabilities, and subtract any contra liability accounts = $176,008 - $7,000 = $169,008
Is an example of Market segmentation, which divides the market in half, due to a different demographics like age, target market etc.
The new target market that divides the market is possibly ages: 6-9
Hope this helps.
Answer:
The correct answer is
: Yes, the offer was revoked by Katherine.
Explanation:
Even if Paul replied Katherine with the acceptance to the first offer, he used a different means of communication to do that -<em>e-mail v. mail</em>. In addition, Katherine sent the revoke by mail -<em>as in the initial offer</em>- before Paul sent his e-mail. So, there is enough proof on Katherine's end that she didn't want to proceed with the offer before Paul confirmed his agreement on the terms. In that sense, Katherine did revoke the initial order.
