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3 years ago

When you take out a mortgage your home becomes the collateral. True or Fals

Business

1 answer:

gogolik [260]3 years ago

7 0

Answer:

The statement is true.

Explanation:

Mortgage is the long term loan which is issued by the financial institution like banks. These are those loans which are obtained or acquired for a large amount of finance required.

For example, an entrepreneur need a 50 million for the business expansion. Therefore, in this case, usually a house is worth the amount so it is offered as collateral security.

And if entrepreneur fails to make the payment to the lender that is bank, in that case, the bank has an option of claiming the ownership of the property. This result in seizing the mortgage collateral.

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The total factory overhead for Magnum Corporation is budgeted for the year at $500,000. This is divided into three activity pool

tatuchka [14]

Answer:

The ABC overhead for a Deluxe kayak will be $170.93

Explanation:

$\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate$

We are going to divide the overhead cost over the cost driver of each activity.

$\left[\begin{array}{cccc}-&Overhead&Total&Rate\\fabric&246,000&10,000&24.6\\assembly&144,000&32,000&4.5\\setup&110,000&15&7,333.33\\\end{array}\right]$

Now we apply the rate to Deluxe Kayak:

$\left[\begin{array}{cccc}-&Rate&Deluxe&Overhead\\fabric&24.6&10,000&246,000\\assembly&4.5&24,000&108,000\\setup&7,333.33&10&73,333.33\\Total&-&-&427,333.33\\\end{array}\right]$

Finally we divide the overhead for Deluxe between the units produced

427,333.33/ 2,500 = 170.933 = 170.93

3 0

3 years ago

John Wiggins is considering the purchase of a small restaurant. The purchase price listed by the seller is $890,000. John has us

Phantasy [73]

Answer:

$763,057

Explanation:

Present value is the sum of discounted cash flows

Present value can be calculated using a financial calculator

Cash flow in year 1-6 = $89,000

Cash flow in year 7 = 79,000

Cash flow in year 8 = 69,000

Cash flow in year 9= 59,000

Cash flow in year 10 = 49,000 + $790,000 = 839,000

I = 11%

Present value = $763,057

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

8 0

3 years ago

M1 is the

Elodia [21]

Answer:

B. money market funds

Explanation:

The most limited definition of money, M1, consists just of cash and various bank accounts that allow check writing. Money in circulation includes cash, traveler's checks, demand deposits, and other types of checkable deposits.

7 0

2 years ago

Angela, a recent university graduate, wants to start a fashion boutique that will sell tailor-made garments and accessories. She

ella [17]

Answer:

E. The Small business Administration

Explanation:

The small business administration is an agency that supports small business and entrepreneurs with setting up of their business. The small business administration helps with the provision of counseling to aid individuals trying to start and grow businesses.

Therefore Angela should meet the Small business Administration for financial and managerial assistance.

4 0

3 years ago

Explain how a person who pursued a career in accounting could succeed as an entrepreneur.

rosijanka [135]

Answer:

own their own accounting business

4 0

3 years ago