Answer:
The correct answer is D
Explanation:
Compensating balance is the balance which is to be minimum amount that is to maintained or kept in the bank account, so that could be used to offset the cost incurred by the bank for setting up the loan.
It is that balance which is not available for the company to use and might be needed to disclose in the notes of the borrower in the financial statements.
So, it is a specific kind of collateral, allow bank to monitor payment practice of firms and require to have a minimum amount that borrower need to keep in the checking account.
Answer:
The correct option is D, Heirloom.
Explanation:
A garden Plant that has been passed down within a food family and is generally not commercially grown is called a Heirloom Product. Such garden plants are planted by the gardeners for their own and family use. Such plants are not sold commercially. Generally they are planted to be used within the house. Family members use such plants to make foods.
Answer:
c. $500
Explanation:
A contract is an agreement by two or more parties to perform a.certain activity within a given time.
When contract are breached, the beneficiary has the right to gain back the amount promised.
If the beneficiary can get another option, the other party is obligated to pay the balance.
On this instance Nora had the chance to get a new job at $2,000 salary the balance is $2,500 - $2,000= $500. Since she rejected the job she is responsible for that loss.
However ABC is still liable to pay the balance of $500
All liabilities involve a probable future sacrifice of economic benefits and arise as a result of past transactions or events.
A liability is a debt that a person or business has, typically in the form of money. Through the transmission of economic benefits like money, products, or services, liabilities are eventually satisfied. Assets and liabilities can be compared. Assets are items you own or owe money to; liabilities are things you owe money to or have borrowed. A liability is an unfulfilled or unpaid obligation owed by one party to another. A financial liability is an obligation in the world of accounting, but it is more specifically characterized by previous business transactions, events, sales, exchanges of goods or services, or anything else that will generate income in the future.
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