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3 years ago

What is the security for the repayment of a secured loan called?

2 answers:

8 0

If my memory serves me well, collateral <span>is the security for the repayment of a secured loan. So your answer is B)</span>

meriva3 years ago

7 0

Answer: B: Collateral

Collateral is the security for the repayment of a secured loan.

Explanation:

A secured loan refers to a type of loan that is backed by collateral. The collateral can be used as payment to the lender if the borrower is unable to pay the loan. It has lower interest rate because it is less risky as a result of the collateral. Examples of collateral include: house, car, companies and so on.

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Individuals and Businesses are the ONLY decision makers. Which market does this describe?

dolphi86 [110]

<h3>Answer: </h3>

The answer is A.

<h3>Explanation: </h3>

The free market is a system where the prices of goods and services are self-governed by companies and individuals. It is free of any control by the government or any other authority, with no economic favors and monopolies.

5 0

3 years ago

In the circular flow model of the market system, households’ major role is to Multiple Choice buy both products and resources. s

STALIN [3.7K]

Answer:

Explanation:

the diagram of circular flow, shows the graphical representation of the exchange of goods, services and money between two parties as are families and businesses, where families exchanged money for goods and services and the companies through these monies that they receive to acquire factors of production to provide to the families.

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3 years ago

Production Budget and Direct Materials Purchases Budgets Peanut Land Inc. produces all-natural organic peanut butter. The peanut

Pavlova-9 [17]

Answer:

See explanation section

Explanation:

Peanut Land Inc.

Direct Materials Purchases Budgets

For the month of January and February

January February

Budgeted sales 36,000 38,000

+ ending inventory 9,500 10,250

Production available 45,500 48,250

<u>- beginning inventory 9,300 9,500 </u>

Total production 36,200 38,750

<u>Per unit material 24 ounces 24 ounces</u>

Total raw mater 868,800 930,000

<u>+ ending materials 93,000 99,600 (1)</u>

Materials available 961,800 1,029,600

<u>- Beginning inventory 86,880 93,000</u>

Budgeted Direct materials 874,920 936,600

Calculation:

(1) Ending materials inventory for February = [(March sales + Ending inventory - Beginning Inventory) × Per unit material] × 10% of the March Production

Therefore, Ending materials inventory for February = [(41,000 + 10,750 - 10,250) × 24 ounces] × 10%

Ending materials inventory for February = 99,600

6 0

2 years ago

Glebe Company accepted a credit card account receivable in exchange for $1,100 of services provided to a customer. The credit ca

Mkey [24]

Answer:

As such, the effect on the elements of the financial statements are

Cash increases by $1,045 and receivable decreases by $1100 resulting in a net decrease in assets by $55.

Expense in the statement of other income increase by $55, thereby resulting in a decrease in owner's equity by the same amount.

Explanation:

This type of transaction is called factoring of receivables. When receivable are factored, the company sells the receivable to another and incurs a charge.

This is usually done to ease liquidity pressures.

The entries required on factoring

Debit Cash

Debit Factoring/interest expense

Credit Account receivable

The Factoring charge

= 5% * $1,100

= $55

Amount of cash received

= $1,100 - $55

= $1,045 (posted to cash)

4 0

3 years ago

Supply costs at Lattea Corporation's chain of gyms are listed below:

Reptile [31]

Answer:

The correct answer is d. $0.31 per client-visit; $24,766 per month.

Explanation:

The costs can be of fixed nature or a variable nature or of a mixed nature. A mixed costs contains a component of both fixed and variable costs. The high-low method is used to calculate the variable component per unit of a mixed cost. Th formula for high low method is:

Variable cost per unit = (Highest activity cost - Lowest activity cost) / (Highest activity level - Lowest activity level)

the highest activity is in June, 13400 client visits and the highest cost is also of this activity. The lowest activity is in August, 11207 client visits and the lowest cost belongs to this activity.

Variable cost per unit = (28920 - 28235) / (13400 - 11207)

Variable cost per unit = $0.31 rounded off to two decimal places

The fixed cost = Total cost - total variable cost

Taking 13400 activity,

The fixed component is = 28920 - (0.31 * 13400) = $24766 per month

Thus, the correct answer is d.

5 0

2 years ago