Answer: a. Reports indicate that students are particularly vulnerable to these tactics. If you fail to pay off the balance, you end up paying much more than the original purchase price for your items.
Explanation:
Even though financial advice is usually tailormade for the individual, a financial expert would most likely give this advice to a student because students are indeed vulnerable to such tactics.
They would be more prone to spend more in the store as a result of the credit card and this will lead to them being unable to pay off balances which will then lead to them paying much more than the original price they would have paid.
Answer:
Mae's Music Shop retains responsibility to pay the Bank of Wallace even if School District 4 defaults on the note.
Explanation:
A contingent liability is merely a potential loss or a liability that may take place in the future that rely on the outcome of a future event. A contingent liability is not certain.
In the question, Mae's Music Shop sold some musical instruments on an outstanding balance to School District 4 and asked School District 4 to sign a note for the purchase. But since Mae's Music Shop needs money before the maturity of the note, they went to the Bank of Wallace and discounted the note.
Now in case of any contingent liability, if the note is dishonored, Mae's Music Shop is liable to pay to the Bank of Wallace for the money.
Thus the answer is ---
Mae's Music Shop retains responsibility to pay the Bank of Wallace even if School District 4 defaults on the note.
Answer:
The two types of personal financial statements are the personal cash flow statement and the personal balance sheet. ... A personal balance sheet summarizes your assets and liabilities in order to calculate your net worth.
Explanation:
Answer:
C. increase equilibrium price and quantity
Explanation:
The demand for substitute goods is inversely related. An increase in the price of a substitute good will cause its demand to reduce. The demand for the other product will increase as customers will prefer the cheaper product.
In the graphs showing both the supply and demand curve, the equilibrium point is the prevailing market rate. As per the law of supply and demand, an increase in demand results in increased prices. High demand means many buyers are chasing few goods. Suppliers will have to supply more but a higher price to meet the new demand. An increase in demand causes the equilibrium price to shift upward to reflect the new high price.