All categories

3 years ago

Which best describes a way people can use personal loans?

Business

2 answers:

astraxan [27]3 years ago

6 0

Answer:

To pay for groceries

Explanation:

Personal loan is a type of unsecured loan which a person takes to fulfill his basic daily financial needs. And it is quite flexible, means the borrower is free to use as per his/her need. For example, travelling costs, groceries, medical emergencies, home renovation etc.

IrinaVladis [17]3 years ago

3 0

The option D is correct. People can use personal loans to pay for groceries.

Further Explanation:

A personal loan is taken for the personal things which have a short term fund. It can be used to meet the basic financial need of the person. The budget for the personal loan is limited and it is a secured type of loan. The personal loan carries less amount of money, the payment of non-default is very less in this case.

Justification for the correct and incorrect answer:

To buy a house: This option is incorrect.

If a person wants to buy a house, the housing loan can be taken. This option is not correct as the personal loan is not taken for buying a house.

To buy a bicycle: This option is incorrect.

If a person wants to buy a bicycle, a motor loan can be taken. This option is not correct as the personal loan is not taken for buying a bicycle.

To pay for college: This option is incorrect.

If a person wants to pay for college, an educational loan can be taken. This option is not correct as the personal loan is not taken for paying the college.

To pay for groceries: This option is correct.

This option is correct, a personal loan can be taken for payment of grocery. The grocery is personal items.

Learn more:

1. Learn more about loan type

brainly.com/question/1242264

2. Learn more about lifetime cost

brainly.com/question/1757741

3. Learn more about collateral security

brainly.com/question/9913858

Answer details:

Grade: Middle School

Subject: Business

Chapter: Personal loan

Keywords:

describes, people, personal loan, to buy a house, bicycle, pay for college, groceries, short term fund, limited, non-default, and budget.

You might be interested in

In its first year of business, Talula, Inc. produced and sold 600 units. If Talula uses variable costing, ________. A. its val

klasskru [66]

Answer:

C. its operating income will be the same under absorption costing.

Explanation:

VARIABLE COSTING is a managerial accounting cost concept. Under this method, manufacturing overhead is incurred in the period that a product is produced. This addresses the issue of absorption costing that allows income to rise as production rises. Under an absorption cost method, management can push forward costs to the next period when products are sold.

Variable costing is a costing method that includes only variable manufacturing costs—direct materials, direct labor, and variable manufacturing overhead—in unit product costs.

4 0

4 years ago

Which selections use effective you attitude? Check all that apply.

Inessa05 [86]

Answer:

The correct answer is letter "A" and "C": Your name will be automatically entered in the raffle if you attend the annual company BBQ; Your satisfaction is important to us. Please complete the customer satisfaction survey.

Explanation:

Marketing uses different types of messages to reach consumers effectively. In some cases, it is necessary to convert noun phrases into the subjects of the sentence to emphasize the importance of the audience. For instance, the noun phrase "your satisfaction" or "your name" play the role of the subject in the following segments where calling the attention of customers is needed. This practice is seen in:

Your name will be automatically entered in the raffle if you attend the annual company BBQ.
Your satisfaction is important to us. Please complete the customer satisfaction survey.

7 0

4 years ago

Andy and Delilah both work and have one qualifying child.They had AGI of $21,000.What is their EIC?

vekshin1

Answer:

$3,584

Explanation:

For the year 2020 if the married filed jointly so the amount should not exceed than $21,710 and eligible for the one child

So the maximum credit amount earned for the one children is $3,584

Also, the income for investment should be $3,650 or less for the particular year

So in the given options, this above amount is not given so the same is to be considered for the year 2020

And we assume that the question ask for the year 2020 only

6 0

4 years ago

At the beginning of the current period, Griffey Corp. had balances in Accounts Receivable of $239,000 and in Allowance for Doubt

denis-greek [22]

It’s c hopefully this helps

3 0

3 years ago

Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning

wolverine [178]

Answer:

$6.7 per direct labor hour

Explanation:

Given:

Direct labor-hours = 20,000

Fixed manufacturing overhead cost = $94,000

variable manufacturing overhead = $2.00 per direct labor-hour

Actual manufacturing overhead cost for the year = $123,900

Actual total direct labor = 21,000 hours

Now,

Total Estimated Manufacturing Overhead

= 94000 + ( 2 × 20000 )

= $134,000

And,

Predetremined Overhead Rate = $\frac{\textup{Estimated Maufacturing Overhead}}{\textup{Estimated Direct Labor Hours.}}$

Predetremined Overhead Rate = $\frac{\textup{134,000}}{\textup{20000}}$

Predetremined Overhead Rate = $6.7 per direct labor hour

5 0

4 years ago