1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lozanna [386]
2 years ago
14

What consequences do borrowers face if they miss many payments?

Business
1 answer:
Oksi-84 [34.3K]2 years ago
6 0
Depends on who they are owing money. But the party that lent the money can take legal action against the borrower and can get the state involved to seize property from him/her. Also depends on state and local law.
You might be interested in
Job descriptions are a key prerequisite for any performance management system because
Dmitry [639]
Job descriptions are a key prerequisite for any performance management system because they provide the criteria that will be used in measuring<span>performance.
These job descriptions will give you all information you need to see how your performance is going to be measured. So it is important to include them to make things easier for you, so that you can know whether or not to apply for that particular position.
</span>
7 0
3 years ago
Which term refers to the fundamental rethinking and radical redesign of a business activity to achieve dramatic improvements in
Reika [66]
<span>This fundamental rethinking and radical redesign of business to achieve major improvements in outputs is called as business process re-engineering. The process access and analyses the flow of work and other procedures that are carried in the business and make the necessary changes to the business plan.</span>
5 0
3 years ago
If the four largest firms in an industry produce 20, 10, 7, and 3 units of output, respectively, and total industry output is 10
GrogVix [38]

Answer:

40%

Explanation:

The four firm concentration ratio calculates the concentration ratio of the 4 largest firms in an industry.

Four firm concentration ratio = 0.2 + 0.1 + 0.07 + 0.03 = 0.4 = 40%

7 0
2 years ago
Recall the components of internal control. identify the internal control weakness in this​ situation, and propose a way to corre
ale4655 [162]

Answer:

The internal control weakness includes:

1. The credit department receives incoming cash from the customers.

2. A credit department can pocket cash received from a customer and copies all remittance slips for the controller, then destroy the remittance slip.

3. The credit department can then write off customer's account as uncollectible, and the company will stop pursuing collection from the customers

Explanation:

To begin, it is important to understand the concept of Internal Control. Internal control can be generally understood as the procedures determined to ensure organization's objectives in efficiency and effectiveness, reliable financial reporting and compliance with existing organization's rules and regulations.

Hence, internal control is meant to strengthen the achievement of an organization's objectives. Thus, we have seen a number of weaknesses from the scenarios painted above. It must be stated that the weaknesses stem from the fact that the company receives incoming cash receipt from customers.

To avoid and prevent this, a company should have a cash go to a clocked box at the bank. With this, the weaknesses emanating from physical cash handling by the credit department will be eliminated.

Taking a critical look at the internal control procedures, it'll be observed that the policies adopted on cash receipt is one not generally in tune with best practices. Hence, to strengthen the control, a cash go to a clock box at the bank should be created to facilitate and encourage customers' deposits in the banks. Doing this will ensure the department rids of weaknesses emanating from this cash treatment, and point number 2 and 3 as stated above can be easily resolved.

6 0
3 years ago
Wideload, Inc, makes, sells, and leases trucks, trailers, and other moving and hauling equipment for consumer use. Verna files a
blondinia [14]

Wideload, Inc, makes, sells, and leases trucks, trailers, and other moving and hauling equipment for consumer use. Verna files a product liability suit against Wideload, alleging a design defect. In deciding whether to hold the maker liable, the court may consider: The expectations of the ordinary consumer.

<h3><u>Explanation:</u></h3>

The disputes that are related to any legal sections regarding the liability of the products are subjected to a consumer expectations test. The main purpose of the conduction of this test is to ensure that the product is properly manufactured and the defectiveness in the warning information of that particular product.

A product will be concluded to be defective under this test when a consumer finds that the product is defective. In the given example, Verna files a product liability suit against Wideload, regarding the defects associated with the design. Thus, the court may consider The expectations of the ordinary consumer for making it liable.

6 0
3 years ago
Read 2 more answers
Other questions:
  • Assume a steel company is willing to sell its alloy beams for $400 a piece and produce 100000 units. At a price of 449 they are
    11·1 answer
  • If you are the driver or owner of a vehicle which is in a crash that is your fault, and you are not insured in compliance with t
    14·2 answers
  • In which document can the project manager (pm) find guidance for implementing earned value management (evm) contract management
    7·1 answer
  • In order for a country to progress from a less developed country (LDC) to a moderately developed country (MDC), the country woul
    12·1 answer
  • The W. J. Clinton Company issued 750 shares of $1 stated value common stock in exchange for land from the Whitewater Investment
    7·1 answer
  • DistaBricks manufactures custom brick and applies job-order costing. The following information relates to the fiscal year ending
    6·1 answer
  • On Mr. Casper’s debate team at Thunderbird High School, 20% of the members are Sophomores, 35% are Juniors and 45% are Seniors.
    12·1 answer
  • Distribution systems _____ .
    11·1 answer
  • If 20,000 units in ending inventory are 75% complete with respect to direct materials and 60% complete as to conversion costs, t
    6·1 answer
  • Over its history, suppose that France has borrowed more from the rest of the world than it has lent to the rest of the world. Th
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!