Answer: A
Explanation: There is a higher risk for banks when they give an unsecured loan. Secured loans have a collateral to back the loan, whereas unsecured loans are not a secure (hence the name).
Hope this helps!
Answer:
The answer is D. Inventory account.
Explanation:
Perpetual inventory method is very useful as it is updated daily and gives a real-time insight into the stocks unlike in the periodic inventory system where you calculate the stock at the end of a certain period.
In accounting, cash receipts refer to the record of the sales made in a form of cash, therefore, credit sales are not included in this record. When we say sales made on account, this refers to credit sales. Therefore, the answer to the given statement above is FALSE.
Option C , Tim takes advantage of his grandmother's illness and persuades her to sign a will leaving all her property to him.
Explanation:
A individual who demonstrates excessive control may always be someone who has a special connection with the testator who has had the ability to render the testator vulnerable who affected by terms of danger, difficulty, manipulation.
Undue interference occurs mainly in areas of probate, trust and properties, power of attorney and custody.
Indecent influence is not usually a crime in itself, but it can be a means of committing a crime, including exploitation, fraud, domestic abuse and sexual assault.
Answer:
The projected Net Income is $70,784
Explanation:
The Pro- forma income Statement
Working Note:
Variable cost = Sales × 44%
= $585,000 × 44%
= $257,400
EBT (Earnings before Tax) = Sales - Variable cost - fixed cost - depreciation
= $585,000 - $257,400 - $187,000 - $51,000
= $89,600
Net Income = EBT × Tax rate
= $89,600 × 21%
= $70,784
