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3 years ago

5

Which of the following is a way to use credit responsibly? Question 1 options: Paying only the minimum payment each month Unders

tanding the account's interest rate Opening several different credit accounts

1 answer:

SSSSS [86.1K]3 years ago

8 0

Understanding the accounts interest rate

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Harry owns a Cadillac and a Porsche. Ryan has always wanted a Porsche and knows Harry owns one. Harry decides to sell his Cadill

seropon [69]

Answer:

mutual mistake

Explanation:

A mutual mistake happens when all the parties involved in a contract (two or more) are mistaken or do not know the correct information about some specific material fact that is relevant to the contract. In this case, the contract can be rescinded because Harry believes that Ryan wants to buy his Cadillac, while Ryan believes Harry is selling his Porsche.

Since both of them are mistaken and do not know relevant material facts regarding the contract, the contract can be terminated.

6 0

2 years ago

The amount of money remaining after deductions are taken out best describes which term?

telo118 [61]

The answer to this question is the term net income. A net income is the remaining money after deductions or expenses have been taken from the gross income. Net income is also known as net profit. Net income also states and calculates the total revenue that exceeds after all operational expenses and taxes been deducted.

4 0

3 years ago

In a town's general fund operating budget for the year, the amount of its estimated revenues exceeded the amount of its appropri

kaheart [24]

This excess should be credited to Budgetary Fund Balance Unassigned.

<h3>What is Fund Balance?</h3>

Any specific fund's fund balance is basically what is left over after the fund's assets are used to pay its liabilities. Both the reserved and unreserved portions of the fund balance must be disclosed.

<h3>What is Unassigned Fund Balance?</h3>

The term "unassigned fund balance" refers to the balance that remains after non-spendable, restricted, committed, and assigned funds have been deducted from the total amount. It contains all spendable monies that are not included in the other classes. That's not a very simple explanation.

Therefore, perhaps the simplest approach to considering the unassigned fund balance is the amount of money available to stop a cash flow problem.

Therefore, in a town's general fund operating budget for the year, the number of its estimated revenues exceeded the number of its appropriations. This excess should be credited to Budgetary Fund Balance Unassigned.

For more information on Budgetary Funds, refer to the link:

brainly.com/question/16033301

#SPJ4

5 0

1 year ago

Sean, age 37, sold the home he purchased three years ago and now rents an apartment. he had originally purchased his home for $8

ZanzabumX [31]

28,800 is the answer

6 0

2 years ago

Bond Valuation and Changes in Maturity and Required Returns Suppose Hillard Manufacturing sold an issue of bonds with a 10-year

g100num [7]

Answer:

It will be sold at $1,186.71

Explanation:

We will calculate the present value of the cuopon payment and the maturity at the new market rate of 7%

<u>The coupon payment will be calcualte as the PV of ordinary annuity</u>

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C $50 (1,000 x 10%/2 as there are 2 payment per year)

time 16 (8 years x 2 payment per year)

rate 0.035 (7% rate / 2 payment per year)

$50 \times \frac{1-(1+0.035)^{-16} }{0.035} = PV\\$

PV $604.7058

<u>The maturity will be calculate as the PV of a lump sum</u>

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 1,000.00

time 8 years

rate 0.07

$\frac{1000}{(1 + 0.07)^{8} } = PV$

PV 582.01

<u>The market price will be the sum of both:</u>

PV cuopon $604.7058

PV maturity $582.0091

Total $1,186.7149

6 0

3 years ago