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Sedbober [7]
3 years ago
13

TRUE or FALSE: A credit card company can't charge you a higher interest rate just because you're a college student and have no c

redit history.
Business
1 answer:
Korvikt [17]3 years ago
5 0

Answer: False

Explanation:

Even if you have a reliable income but you have no credit history, you will be seen as a something of a risk because you don’t yet have a track record.

Therefore a credit card company will charge higher interest rate due to the potential risk because of lack of track record .

You might be interested in
Name and describe three ways that companies can benefit from being ethical.
dalvyx [7]
Higher revenues – demand from positive consumer support.
Improved brand and business awareness and recognition.
Better employee motivation and recruitment.
3 0
4 years ago
If Amy painted 8 walls in the first hour of work, and then switched to doing 6 outlets in the second hour of work, what was the
Irina-Kira [14]

Answer:

1.33 walls

Explanation:

Here is the complete question :

Amy and Bill are fixing up their house by painting walls and installing electrical outlets. In one hour, Amy can paint 8 walls, or install 6 outlets. In one hour, Bill can paint 5 walls, or install 5 outlets a. If Amy painted 8 walls in the first hour of work, and then switched to doing 6 outlets in the second hour of work, what was the opportunity cost of each of those outlets?

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

By doing the outlet, Amy is forgoing the option of painting walls.

Opportunity cost = 8/6 = 1.33 walls

8 0
3 years ago
A nine-year project is expected to generate annual revenues of $137,800, variable costs of $82,600, and fixed costs of $11,000.
AleksAgata [21]

Answer:

Option (a) is correct.

Explanation:

Given that,

Annual revenues = $137,800,

variable costs = $82,600

Fixed costs = $11,000

Annual depreciation = $23,500

Tax rate = 34 percent

Annual Income before Taxes:

= Annual revenues - Variable cost - Fixed Costs - Depreciation

= $137,800 - $82,600 - $11,000 - $23,500

= $20,700

Net income:

= Annual Income before Taxes × ( 1 - T)

= $20,700 × 0.66

= $13,662

Annual operating cash flow:

= Net income + Depreciation

= $13,662 + $ 23,500

= $37,162

3 0
3 years ago
Which of the following is not a purpose of adjusting entries? a. To establish the proper amounts of assets and liabilities in th
Aleks04 [339]

Answer:

The most sui

Explanation:

7 0
4 years ago
Under U.S. GAAP, if the carrying value of a fixed asset was $50,000, the undiscounted expected future cash flows was $55,000, th
ira [324]

Answer:

$0

Explanation:

According to US GAAP the reduction in the value of the asset due to a decrease in the fair value. It means when fair value of the asset is reduced than the book value of the asset.

Amortized Cost / Book value = $50,000

Market Value = $53,000

Discounted Value = $51,000

There is no Impairment loss on this asset as the fair market value is more than the book value of the asset.

7 0
3 years ago
Read 2 more answers
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