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Tcecarenko [31]
3 years ago
14

Eric and Sharaveen Rush filed a claim alleging violations of the Fair Credit Reporting Act arising out of an allegedly erroneous

credit report prepared by a credit bureau from information, in part, from Macy’s, the department store. The error causes the Rushes to be denied credit. Macy’s filed a motion to dismiss. Is Macy’s liable? Discuss.
(Answer in your own words!)
Business
1 answer:
SVEN [57.7K]3 years ago
8 0

Answer:

Macy is liable. The Federal Trade Commission states that both the credit rating agency and Macy's are responsible for correcting the erroneous credit report. It is very hard to sue and win a credit rating agency because they will place the blame on the company that made the initial mistake (Macy's), but lately courts have accepted cases against the companies that cause all this mess.

Courts have lately ruled in favor people alleging that a bad credit report damaged them since a good credit rating is considered an intangible asset. The company that cause the mistakes are liable for any possible damages resulting from a poor credit rating.

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Lynette Company's Inventory balance at 12/31/04 was $200,000 and was $188,000 at 12/31/05. Its Accounts Payable balance e at 12/
Viefleur [7K]

Answer:

A) $704,000.

Explanation:

For computing the cash payments we need to calculate the following amounts which are as follows

Total purchases = cost of goods sold + ending inventory - opening inventory

= $720,000 + $188,000 - $200,000

= $708,000

Now cash payment to merchandise is

= Beginning account payable balance + purchased made - ending account payable balance

= $80,000 + $708,000 - $84,000

= $704,000

Hence, the correct option is A. $704,000

3 0
3 years ago
Forced to lay off a number of its employees, including larry kurzyniec. larry, who had been logging for over eighteen years, suf
Shtirlitz [24]

COBRA- Consolidated Omnibus Budget Reconciliation Act, is the name of the federal law that guarantees employees who have lost their jobs continuing access to health insurance.

<h3>What is Federal COBRA?</h3>

When your employment terminates or your hours are reduced, federal COBRA is a law that enables you to preserve your group health coverage. All insured employees, their spouses, ex-spouses, and dependent children must be provided with continuous coverage under federal COBRA. Employers and group health plans with 20 or more members are subject to the federal COBRA.

<h3>How does COBRA work?</h3>

Under certain conditions, including voluntary or involuntary job loss, a reduction in hours worked, a change in employment, death, divorce, and other life events, the COBRA allows employees and their families who lose their health benefits to choose to continue receiving group health benefits from their group health plan for a finite amount of time. The full price for coverage up to 102% of the plan's cost may be demanded of qualified persons.

To know more about Federal laws visit:                                                          brainly.com/question/29439408

#SPJ4

4 0
11 months ago
Company C&amp;A sells 600 bottles of a dietary supplement per week at $100 per bottle. The supplement is ordered from a supplier
Katen [24]

Answer:

A. 300

Explanation:

The computation of the economic order quantity is shown below:

= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}

where,

Annual demand = 600 bottles × 50 weeks = 30,000 bottles

Carrying cost per bottle = $50 × 40% = $20

And, the ordering cost per order is $30

Now put these values to the above formula  

So, the value would equal to

= \sqrt{\frac{2\times \text{30,000}\times \text{\$30}}{\text{\$20}}}

= 300 bottles

Hence, option A is correct

3 0
3 years ago
nternal control is defined as the procedures and processes used by a company to safeguard its assets. process information accura
sweet-ann [11.9K]

Internal control is defined as the procedures and processes used by a company to safeguard its assets, process information accurately and to ensure compliance with laws and regulations.

<h3>Internal control</h3>

Internal controls also include the measures a company takes to ensure its employees comply with all laws and regulations and do not steal company assets. Physical controls like door locks, area restrictions, safes and surveillance equipment are internal controls, too.

Internal controls are policies, procedures, and technical safeguards that protect an organization's assets by preventing errors and inappropriate actions. Internal controls fall into three broad categories: detective, preventative, and corrective.

To learn more about Internal controls visit the link

brainly.com/question/13678245

#SPJ4

7 0
2 years ago
Which dimension of the Big Five model refers to an individual's propensity to defer to others? A) conscientiousness B) agreeable
lisabon 2012 [21]

Answer:

agreeableness

Explanation:

Emotional stability measures the ability to withstand stress.

Conscientiousness measures the ability of a person to be reliable and organised.

Openness to experience measures interests and fascination with new things and experiences.

Extraversion measures the degree to which a person likes being with other people.

I hope my answer helps you

6 0
3 years ago
Read 2 more answers
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