Scott was denied the loan because he was not old enough to qualify.
<h3>What is the Payday loan?</h3>
Payday loan is a type of unsecured loan in which high rate of the interest is given to the borrower. It is a kind of the short term loan basically for the two weeks.
According to the above situation, Scott is cannot get the payback loan because he is minor to sanction a loan. He must have the age of 18 years or above.
Learn more about payday loan here:
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Complete question reads;
Which of the following is not a reason Best Buy has had a hard time competing with Amazon? Multiple Choice
a. Best Buy decided to bring in Hubert Joly as CEO to replace Brian Dunn.
b. Amazon has many strategically located distribution centers across the United States.
c. Best Buy had significant expenses that did not help improve sales.
d. Amazon has a deep supply of products to draw from.
e. Best Buy has faced some key leadership challenges.
Answer:
a
Explanation:
Noteworthy is the fact that Hubert Joly's arrival into Best Buy was indeed a blessing to the company because within a year after he came in 2012, the company's stock value more than doubled in 2013.
He further improved the company's customer interactions, plus greater price competitiveness during his leadership.
Answer:
Explanation:
The computation of the depreciation expense under straight-line method is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($42,000 - $1,990) ÷ (5 years)
= ($40,010) ÷ (5 years)
= $8,002
In this method, the depreciation is same for all the remaining useful life
The journal entries are shown below:
For 2019
Depreciation expense A/c Dr $8,002
To Accumulated Depreciation A/c $8,002
(Being depreciation expense is recorded)
For 2020
Depreciation expense A/c Dr $8,002
To Accumulated Depreciation A/c $8,002
(Being depreciation expense is recorded)
Answer: $112.08
Explanation:
Given that,
Life insurance policy = $240,000
Cost = $210
Amount to be paid by company to old lady if she survives (A):
= $240,000 - $210
= $239,790
Probability that she survives (P1) = 0.999592
Probability that she doesn't survives (P2) = 1 - 0.999592
= 0.000408
Expected value of this policy for the insurance company:
= (P1 × cost of policy) - (P2 × A)
= 0.999592 × $210 - 0.000408 × $239,790
= $209.91432 - $97.83432
= $112.08
Answer:
All of the choices are correct.
Explanation:
GAAP is an acronym for Generally Accepted Accounting Principles, it comprises of the accounting standard, procedures and principles used by public institutions in the United States of America. The U.S GAAP is issued by the Financial Accounting Standards Board (FASB) and adopted by the U.S. Securities and Exchange Commission (SEC).
GAAP includes each of the following pronouncements:
Statements of Financial Accounting Standards, Accounting Research Bulletins, Accounting Principles Board Opinions.
For external reporting purposes, United States of America, Generally Accepted Accounting Principles (GAAP) allows companies to use only the traditional format of the income statement.
United States of America, Generally Accepted Accounting Principles (GAAP) is the accounting principles, procedures and standard issued by the Financial Accounting Standards Board (FASB) and adopted by the United States of America, Securities and Exchange Commission (SEC).
When accountants prepare and compile financial statements for public firms, it must be in line with United States of America, Generally Accepted Accounting Principles (GAAP).
