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
dsp73
3 years ago
6

Evan has received permission from his state to form a corporation for his startup, expecting his liability would be limited to t

he amount of his investment. But his bank asked him to assume personal liability before it would grant him a business loan. Why would the bank make this demand?
Business
1 answer:
vekshin13 years ago
7 0

Answer:

Evan's business has no credit history.

Explanation:

As Evan has just created the company, it has no record about its ability to pay debt which is important for a bank to give a loan and it will not be willing to approve it if the company has no credit history that shows that it can make the payments. Because of that, it will require Evan to assume personal liability in order to have a guarantee that the loan would be paid back.

You might be interested in
Which of the following types of business usuallly has the fastest invetory turn over ?
Irina18 [472]
D grocery store.

I looked on yahoo for answers and most of the people said grocery store. Someone said that “Grocery stores would see more sales per day.”
3 0
3 years ago
As you and your partner report for duty, you check your ambulance and begin talking about the possibility of a terrorist attack.
grandymaker [24]
The most effective and appropriate way to determine the likelihood of this happening is to: stay informed, keep up with the news
6 0
3 years ago
Euphrasia, a mixed open​ economy, was severely affected by a recession that almost paralyzed its service sector. The Euphrasian
Flura [38]

Answer:

E) Oil imports declined as countries exporting oil reduced supply.

Explanation:

Oil is extremely important for industrialized nations and since Euphrasia is a mixed open economy, we can assume that it is an industrialized nation. Oil has become the most important energy source for more than 60 years and is the raw material for manufacturing plastic.

During the 1970s and early 1980s the American economy was shattered by an increase in the price of foreign oil and a decrease in its domestic production levels. The importance of oil is also why so many modern wars have been fought over oil production and reserves.

4 0
3 years ago
Suppose one of the cases is selected at random and the outcome of the appeal and type of trial are observed.
Kruka [31]
What is the question you are asking
7 0
2 years ago
Select all that apply Determine which of the following statements are correct descriptions of a subsidiary ledger. (Check all th
djyliett [7]

Answer:

- The balance in the subsidiary ledger will equal the balance of its supported account in the general ledger.

- The account which the subsidiary ledger supports in the general ledger is called a control account.

- It is a supporting ledger that contains detailed information about a general ledger account.

- Two of the most common subsidiary ledgers are for Accounts Payable and Accounts Receivable.

Explanation:

A subsidiary ledger is defined as a supporting ledger that contains details of an account on the general ledger.

It gives a breakdown of the single amount that reflects in a general ledger account.

For example if the accounts payable account has a balance of $50,000, the subsidiary ledger will show the individual transactions that make up the $50,000.

Therefore the balance of the subsidiary ledger will equal the amount in the general ledger account.

5 0
2 years ago
Other questions:
  • City Movers announced that its next annual dividend will be $.40 a share. The following dividends will be $.60, and $.75 a share
    8·1 answer
  • Sheridan Company sells office equipment on July 31, 2017, for $20,320 cash. The office equipment originally cost $84,510 and as
    13·1 answer
  • The following transactions occur for Badger Biking Company during the month of June: Provide services to customers on account fo
    8·1 answer
  • Which of the following statements about the debate over stabilization policy are correct? Check all that apply. Advocates of act
    6·2 answers
  • Which of the following is not an example of risk factors for a multinational company?
    13·1 answer
  • Due to heavy lobbying by the Cake Makers of America, the government issues a new regulation that requires people who sell cakes
    15·1 answer
  • Why do we study opportunity cost
    12·1 answer
  • Which kind of decisions involving resources must producers of goods and services make? ECONOMICS.
    8·2 answers
  • The Perry Company reported Accounts Receivable, Net of $66,000 at the beginning of the year and $72,900 at the end of the year.
    10·1 answer
  • 1. Which of the following people is/are legally required to file a tax return?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!