The mortgage is a liability.
A mortgage is an agreement between you and a lender that gives the lender the proper to take your house if you fail to pay off the money you've borrowed plus interest. loan loans are used to buy a home or to borrow money in opposition to the price of a domestic you already personal. Seven things to search for in a mortgage.
An instance of a mortgage is the loan you took out when you bought your property. To mortgage is whilst you take a loan and use your home as collateral. An example of a mortgage is when you visit a financial institution and borrow money in opposition to your home.
The mortgage existence cycle starts whilst a man or woman makes a decision to purchase a residence and techniques a financial group for the loan. It continues until the borrower repays the final charge to the loan issuer.
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Answer:
c. governments that print too much money
Explanation:
In the long run, increase in money supply causes inflation. Since there are more money circulated in the market than the needs for transaction, inflation (an increase in prices) will be rise inevitably.
The government print too much money when they borrow to much or cannot pay their loans. The government finance its policies by tax and borrowing (issuing the government bonds), when the tax is not enough, the will issue bonds. If the due comes and they do not have enough money, they may force the central bank to print more money to pay their loans or buying their own bonds. This causes the rise of money supply resulting in inflation in the long run. Bolivia is an example of this situation.
Answer:
Answered
Explanation:
The order of steps in the accounting cycle.
1 Transactions are analyzed and recorded in the journal.
2 Transactions are posted to the ledger.
3 An unadjusted trial balance is prepared.
4 Adjustment data are assembled and analyzed.
5 An optional end-of-period spreadsheet (work sheet) is prepared.
6 Adjusting entries are journalized and posted to the ledger.
7 An adjusted trial balance is prepared.
8 Financial statements are prepared.
9 Closing entries are journalized and posted to the ledger.
10 A post-closing trial balance is prepared.
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