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3 years ago

A process by which banks designate an area within which they refuse to lend money for improvements is

Business

2 answers:

Alexus [3.1K]3 years ago

6 0

Answer:

Redlining

Explanation:

Redlining by banks refers to the bank marking out an area on the map in which they indicate areas or neighborhoods they don't want to make loans to. Areas marked signifies areas they don't want to invest in or make loans to individuals in those areas. The areas marked however are usually associated with people of some certain kind of socio economic characteristics, mostly pertaining to race in the United states. Other socioeconomic characteristics that is usually marked out is areas characterized by low income earners.

Vladimir [108]3 years ago

4 0

Answer:

Redlining

Explanation:

Redlining is a practice in which a bank refuses to lend money for improvement either in loans , mortgages , credit card , insurance and others due to income , race , ethnicity , geographical location .It is seen to be a discriminatory and an illegal act.

It can be direct through a direct decline of services as mentioned above or indirect through higher interest rates for borrowers from specific regions or certain racial groups.

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Sage Inc. owns shares of Pronghorn Corporation stock. At December 31, 2020, the securities were carried in Sage’s accounting rec

OleMash [197]

Answer:

The Journal entry was recorded for Sage Inc, in the explanation section below

Explanation:

Journal Entries

Date Account Title and Debit $ Credit $

Explanation

21st Sept-21 Equity Investments

( $1,397,000- $1,030,000,) $367,000

To unrealized holding gain

or loss $367,000

21st Sept-21 The retained earnings $1,397,000

To Property Dividends payable $1,397,000

08- Oct-21 No entry

23- Oct-21 Property Dividends payable $1,397,000

To Equity Investments $1,397,000

8 0

3 years ago

Fitzgerald Oil and Gas incurred costs of $8.25 million for the acquisition and development of a natural gas deposit. The company

fiasKO [112]

Answer:

Depletion for Year 1: $1,925,000;

Depletion for Year 2: $2,200,000.

Explanation:

Please find the below for detailed explanation and calculation:

- First, calculate the depletion rate per cubic feet of natural gas extracted from the gas deposit:

+Depletion rate = Total cost of acquisition and development of the gas deposit/ total expected gas extraction from the deposit = 8,250,000/3,000,000 = $2.75 per cubic feet.

- Then, find the depletion for the year 1 and yer 2 given the actual extracted gas are given:

Depletion for year one = Depletion rate x actual gas extraction in year 1 = 2.75 x 700,000 = $1,925,000;

Depletion for year two = Depletion rate x actual gas extraction in year 2 = 2.75 x 800,000 = $2,200,000..

Hope you find the explanation helpful.

6 0

3 years ago

When practicing entrepreneurship, starting with means at hand involves ______. a.using your available resources to fund your ven

lord [1]

When practicing entrepreneurship, starting with means at hand involves analyzing who you are.

<h3>What is entrepreneurship?</h3>

entrepreneurship can be regarded as the term that describes owing a business and been responsible for both the risk and the profit.

Therefore, as an entrepreneur , you must be able to analyze who you are, so as to know your strength.

Learn more about entrepreneurship at;

brainly.com/question/22477690

#SPJ1

3 0

2 years ago

g Price changes from year to year are not proportional, and consumers respond to these changes by altering their spending patter

Tpy6a [65]

Answer:

d. substitution bias.

Explanation:

Price changes from year to year are not proportional, and consumers respond to these changes by altering their spending patterns. The problem this creates for inflation calculations is called substitution bias.

A problem with the Consumer Price Index (CPI) arises from the singular fact that, when the price level of a product becomes relatively less expensive or lower, consumers tend to buy more quantity of the product and consequently, a lesser quantity of goods that are relatively more expensive.

Hence, their spending pattern changes with respect to the prices but it's not completely adjusted with the Consumer Price Index (CPI), thus, making the inflation rate to differ because of the problem of substitution bias.

6 0

4 years ago

In its cash flow statement for the current year, Fox Co. reported cash paid for interest of $70,000. Fox did not capitalize any

Nina [5.8K]

Answer:

$76,000

Explanation:

The calculation of the interest expense is shown below:

= Reported amount of cash paid for interest + Decrease in prepaid interest - decrease in accrued interest payable

= $70,000 + $23,000 - $17,000

= $76,000

The decrease in prepaid interest is classified as a current asset and the accrued interest payable is current liabilities and we know that the rise in current assets and a decline in current liabilities are excluded, while the decline in current assets and an increase in current liabilities are included.

6 0

3 years ago