All categories

2 years ago

A legal process in which a borrower is relieved of debts after showing an inability to pay is called?

Business

1 answer:

docker41 [41]2 years ago

7 0

Answer:

Bankruptcy

Explanation:

After declaring bankruptcy, all of your financial obligation would be wiped up, minus several exceptions. For example: Child support, student loans, and alimony would not be deleted even if you declared bankruptcy.

Even though bankruptcy eliminate your current debts, it actually will create more financial problems for you in the future. For example, it will be almost impossible for you to qualify for mortgage or any other types of bank oloans.

You might be interested in

An industry consists of three firms with sales of $310,000, $725,000, and $405,000.

Butoxors [25]

Answer:

A. 3,789

B. 100%

C.5,000

Explanation:

(a) Total market ($'000) = 310 + 725 + 405 = 1,440

Firm 1 share = 310 / 1,440 x 100 = 21.53%

Firm 2 share = 725 / 1,440 x 100 = 50.35%

Firm 3 share = 405 / 1,440 x 100 = 28.12%

HHI = (21.53)2 + (50.35)2 + (28.12)2 = 3,789

(b) Since there are only 3 firms in market, therefore the four-firms concentration ratio will be 100% b

Post-merger HHI = (49.65)2 + (50.35)2 = 5,000

Yes. If the guideline considers any post-merger HHI above 1800 as highly concentrated market, this merger will be probably attempt to block a horizontal merger between two firms with sales.

7 0

2 years ago

Can anyone help plz?

Ulleksa [173]

Explanation:

this is easy to understand and even to answer so if I tell u the answer

how will u learn to do things yourself. By me being a business Woman i learn't that in order to gain sumthing in life u have to do it yourself

7 0

2 years ago

If the quantity demanded of a certain good responds only slightly to a change in the price of the good, it means that

Tanya [424]

Answer:

If the quantity demanded of a certain good responds only slightly to a change in the price of the good, it means that the demand is inelastic, which means that changes in prices would almost not modify quantity demanded by consumers. Consumers are little affected by changes in prices.

This usually happends when there are no substitutes for the good. If the good has many substitutes, and the price goes up, consumers have the opportunity to swich their consumption to an alternative good.
A common example of inelastic demand can be insuline for diabetes patients (or another needed medicine with no substitutes): no matter what happens with the price of the product, usually consumers are willing to consume the same quantities although prices are higher because they really need the product.

8 0

2 years ago

Bonita Industries had the following information at December 31: Finished goods inventory, January 1 $120000 Finished goods inven

EleoNora [17]

Answer:

$1,205,000

Explanation:

Given that,

Finished goods inventory, January 1 = $120,000

Finished goods inventory, December 31 = $226,000

Cost of goods manufactured during the year = $1,895,000

Annual sales = $2,994,000

Cost of goods sold:

= Finished goods inventory, January 1 + Cost of goods manufactured during the year - Finished goods inventory, December 31

= $120,000 + $1,895,000 - $226,000

= $1,789,000

Gross profit for the year:

= Annual sales - Cost of goods sold

= $2,994,000 - $1,789,000

= $1,205,000

7 0

2 years ago

Why is important to have a checking account savings account and certificate of deposit?

alexdok [17]

Answer:

So you can be prepared to handle future responsibilities about finances.

Explanation:

One prime example would be when you go to college you need to make decisions whether to keep the money or give it away for some fragile reasons/needs. Maintaining a checking account instills the habit to grow & safeguard the savings you might make working after school. Just my two cents! :)

3 0

2 years ago