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Vikki [24]
3 years ago
8

A home mortgage is considered a secured loan because it is backed by __________.

Business
1 answer:
Ierofanga [76]3 years ago
8 0
<span>It is backed by collateral, and in this case since it is a home mortgage, the collateral is your home. That means that if you don't pay your loan monthly payments on time or don't pay them at all, then they can take your home away and you can end up on the streets. That's why it is secured, it is secured for the bank, not for you.</span>
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The law of demand states that A. a higher price will lead to increased sales. B. quantity demanded will vary inversely with the
Alchen [17]

Answer:

The correct answer is B. The law of demand states that quantity demanded will vary inversely with the price of the good.

Explanation:

The law of demand states that the value of demand decreases as the price of the product increases, that is, between the value of demand and the price there is an inverse relationship, therefore, an increase in price causes a decrease in demand, and a decrease in price causes an increase in demand.  

Therefore, manufacturers who have decided to produce more should know that an increased number of goods can only be sold at a lower price.

The quantity of goods purchased depends on the price as well as on the average income of the buyers, the size of the market, the price and usefulness of other goods, including substitutes, subjective tastes and preferences of buyers.

8 0
3 years ago
Read 2 more answers
What problems could develop if the us became too dependent on other nations for goods and services
xeze [42]

Answer:

TRADE DEFICIT

FOREIGN CURRENCY RESERVE DEPLETION

LOCAL CURRENCY DEVALUATION

RECESSION

POTENTIAL UNEMPLOYMENT

Explanation:

The problem that could develop if the U.S. became too dependent on other nations for goods and services are:

1. Trade deficit because when a country imports more than it exports it runs a trade deficit.

2. Foreign Currency Reserve Depletion: If the U.S. has to import so much from other countries, it will need to increase its foreign reserve because that is how it will pay for such imports. Otherwise the foreign reserve will be hugely depleted

3. Local Currency Devaluation. Reliance on exports can devalue the worth of the local currency because the demand of the foreign currency will be high in relation to local currency and people will be willing to pay more to get foreign currency, which will devalue the local currency

4. Recession: If the United States is reliant on OPEC countries for Oil and an embargo is placed on oil export from those, the U.S. will suffer a recession.

5. Potential Unemployment: Imports of finished goods will cripple local industries who will be forced to compete with the international firms whose goods and services are being imported; and those employed in such industries might loose their jobs, if the small local enterprises are unable to survive such competition.

8 0
3 years ago
"which expenses would most likely be classified as prepaid expenses (asset) rather than accrued expenses (liability)?"
MakcuM [25]

Expenses likely to be classified as prepaid expense (asset) are Prepaid Rent & Insurance Premiums. Enter a prepaid rent payment on the balance sheet as an asset until the month when the company is actually using the facility to which the rent relates, and then charge it to expense.   Any insurance premium costs that have not expired as of the balance sheet date should be reported as a current asset such as Prepaid Insurance.


8 0
3 years ago
Read 2 more answers
A cafeteria buys muffins daily. Demand varies Uniformly between 30 and 50 muffins per day. The cafeteria pays $.20 per muffin an
kakasveta [241]

Answer:

The optimal stocking level is 45 muffins.

Explanation:

First we have to calculate the Overage cost Co = Purchase price - Salvage value = $0.2 - 0 = $0.2

Then the Underage cost Cu = Selling price - Purchase price =$0.80 - $0.2 = $0.60

Service level = Cu / (Cu + Co) = $0.60/($0.60+$0.2) = $0.75

Hence, optimal stocking level = Minimum demand + Service level *(Maximum demand - Minimum demand)

optimal stocking level = 30 + 0.75*(50-30) = 45

The optimal stocking level is 45 muffins.

Optimal stocking level = 68.75 Muffins

5 0
3 years ago
Financial statement account identification mark each of the accounts listed in the following table as follows.
Triss [41]

Answer:

Account name                         statement(1)                     type of account(2)

Accounts payable                      BS                                        CL

Accounts receivable                  BS                                          CA

Accruals                                     IS and BS                             income and SE        

Accumulated amortization        BS                                       FA

administrative expenses            IS                                      E

Buildings                                       BS                                   FA

Cash                                              BS                                  CA

Common shares                           BS                                    SE

Cost of goods sold                     IS                                       E                        

Amortization                                 BS                                     E

Equipment                                       BS                                 F ASSET

General expenses                           IS                                     E

Intrest expenses                                IS                                     E

Account name                        Statement(1)                 type of account(2)

Inventories                                   BS                                   CA

Land                                             BS                                    FA

long term debts                          BS                                    CL

Machinery                                  BS                                       FA

marketable securities               BS                                      CA

Line of credit                              BS                                             LTD

operating expense                    IS                                           E

Preferred shares                     BS                                      SE

preferred share dividends      BS                                     SE

retained earnings                    BS                                      R

Sales revenue                         IS                                            R

Selling expense                    IS                                                E

Taxes                                         IS                                             E

Vehicle                                     BS                                             FA

 

5 0
3 years ago
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