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3 years ago

Why does an unsecured loan have a higher interest rate than a secured loan?

2 answers:

7 0

Ya, the answer is A. the bank raises the interest because with a secured loan they would have something to fall back on if you didn't pay ur bills. and raise the price if its unsecured so they can try and make sure u pay it back as soon as u can

Gre4nikov [31]2 years ago

3 0

Why does an unsecured loan have a higher interest rate than a secured loan?

A. The bank bears all the risk of the loan.

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During its first year in business, Comfy Home accounted for its inventory using the last in first out (LIFO) method. In the seco

Dmitry [639]

Answer:

Consistency principle

Explanation:

Accounting principles are defined as the general rules of.axcpunting that businesses are expected to follow when reporting financial information.

Accounting principles include:

- Accrual principle

- Conservatism principle

- Consistency principle

- Cost principle

- Economic entity principle

- Full disclosure principle

- Going concern principle

- Matching principle

- Materiality principle

- Monetary unit principle

- Reliability principle

- Revenue recognition principle

- Time period principle

Consistency principle requires one the continue using an accounting method consistently for future accounting periods so that information can be easily comparable.

In the given scenario the accountant tells Tenisa that US GAAP allows a company to choose its inventory valuation method as long as it doesn't change over time without a justifiable reason.

This is an example of consistency principle

5 0

2 years ago

Recording purchases made for cash and on account. LO 8-1 Lewis Corporation engaged in the following transactions during June. DA

vampirchik [111]

Answer:

(A) June 4

Inventory debit 1,065

Accounts Payable credit 1,065

(B) June 15

Inventory debit 1,550

Cash credit 1,550

Accounts Payable debit 1,065

Cash credit 1,065

Explanation:

(A) there is no information or suggestion that Lweis will take the discount, we post as it was nominal, if later on it is paid within the discount period, we will recognize it. No discount is recorded

(B) Simple: increase the inventory receive and decrease cash by the amount paid.

It wasn't within the discount period. So no discount is granted.

5 0

2 years ago

Some clouds do not rain and others do because the clouds that do not rain do not have enough water in them

Alekssandra [29.7K]

That’s wise i like it

6 0

2 years ago

Tayesha wants to find more information about a career in architecture. which resource is most likely to give balanced, accurate

Andrei [34K]

The Bureau of Labor Statistics is usually a good starting point. This website/database allows for all types of jobs and industries to be researched. Within these titles, the career advancement data, statistics on compensation, and types of jobs within the overall umbrella are given.

3 0

3 years ago

Read 2 more answers

Mel suddenly finds an opportunity to sell boxed dinners. The new opportunity would require the use of the 30 percent unused capa

Llana [10]

Answer:

a) Total cost for making and buying the cookies = $900

b) Yes, she should continue to buy the cookies

Explanation:

Number of meals of order received = 300 meals

Relevant cost:

Variable cost per meal produced =

(cost of meal produced - Gross product)/Annual contribution margin

Variable cost per meal = (13500 - 4500)/3000

Variable cost per meal = 9000/3000

Variable cost per meal = $3

Total cost = cost per meal * number of meals

Total cost = 300 * 3 = $900

Total cost for making and buying the cookies = $900

b) Should Mel continue to buy the cookies?

Selling price = $3.50

Relevant cost = $3.00

Profit per meal from special request = $3.50 - $3.00

Profit per meal from special request = $0.50

Since she is making a profit of $0.50 per meal, she should continue to buy the cookies

5 0

2 years ago

Read 2 more answers