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makkiz [27]
3 years ago
14

Why does the credit card company set the minimum payment so low

Business
1 answer:
Illusion [34]3 years ago
5 0

Answer:

To increase profit from interests by increasing duration of balance repayment.

Explanation:

The purpose of every business is to make profits and the reason why every credit card company includes a minimum payment is not just to make it easier to pay but by only making minimum payments, credit card holders could be kept as customers and paying interests on debt for longer.

Secondly, the more the periods the more likely you'll default on some of them and pay penalty fees which means additional income for the companies

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Beautiful Lawns Company estimates its doubtful accounts by aging its accounts receivable and applying percentages to various age
mr_godi [17]

Answer:

$3,000

Explanation:

Calculation to determine How much bad debts expense will Beautiful Lawns report in 2016

Using this formula

Bad debts expense=Estimated doubtful accounts -Allowance for Doubtful Accounts credit balance

Let plug in the formula

Bad debts expense=$3,600-$600

Bad debts expense=$3,000

Therefore The amount of bad debts expense that Beautiful Lawns will report in 2016 is $3,000

8 0
3 years ago
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Explanation:

Small Business Development Centers (SBDCs) provide business-related assistance and knowledge to help entrepreneurs start, run, and grow their businesses.

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2 years ago
group of winning ticket holders share equally in a ​$35 comma 000 comma 000 lottery. Before the money is​ divided, two more winn
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Answer:

The answer is: The original group of lottery winners was made up of 5 people.

Explanation:

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3 years ago
Before implementing controls in a newly developed system, management should PRIMARILY ensure that the controls:
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Answer:

The correct answer to the following question is option A) satisfy a requirement in addressing a risk .

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The reason why management is implementing controls is to mitigate the risk in the newly developed system, that is why management should select that control which primarily mitigate the risk, which have been identified by the management. While designing a control, it would be necessary to consider all the aspects given in the question for a control to be best but in reality it might not be possible.

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