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

Agent joh rogers is planning a formal marketing/sales event and has decided to place an adbertisment in the locla paper. what di

Nina [5.8K]

If Agent John Rogers has decided to run an ad in the neighborhood paper in advertisement with a formal marketing/sales event. Then he must specify that attendees without enrollment obligations may contact 555-555-1234 TTY to request accommodations for those with special needs at sales sessions.

The strategies and actions utilized in advertising are those that aim to draw attention to certain goods, services, viewpoints, or causes with the intention of influencing the public to act in a particular way. The majority of advertising promotes a product that is available for purchase, but comparable techniques are also employed to persuade people, among many other things, to drive defensively, donate to charity, or cast ballots for particular candidates.

The most significant source of revenue for the media outlets through which it is carried out is often advertising (such as newspapers, magazines, or television stations). Advertising has grown to be a significant and significant service industry in the noncommunist world.

Learn more about advertisement here

brainly.com/question/3163475

#SPJ4

7 0

2 years ago

World Company expects to operate at 80% of its productive capacity of 50,000 units per month. At this planned level, the company

skad [1K]

Answer:

a. $13

b. $20,625 Unfavorable

Explanation:

a. Computation of overhead volume variance is shown below:-

Variable overhead rate = Variable overhead cost ÷ Expected standard hours

= $275,000 ÷ 25,000

= 11 direct labor hour

Fixed overhead rate = Productive capacity ÷ Expected standard hours

= $50,000 ÷ 25,000

= $2 direct labor hour

Total overheard rate = Variable overhead rate + Fixed overhead rate

= $11 + $2

= $13

b. The computation of overhead controllable variance is shown below:-

Variable overhead cost = Overhead rate × Standard hours

= $11 × 21,875

= $240,625

Fixed overhead cost = Overhead rate × Standard hours

= $2 × 21,875

= $43,750

Total overhead cost = $13 × 21,875

= $284,375

Actual result = $305,000

Variance = Actual result - overhead cost applied

= $305,000 - $284,375

= $20,625 Unfavorable

Working note:-

Standard direct labor hours = Actual units ÷ Standard hours

= 35,000 × 1.6

= $21,875

Standard units per hour = (Standard capacity × Expected production) ÷ Standard hours

= (50,000 units × 80%) ÷ 25,000 hours

= 1.6 units per hour

8 0

3 years ago

What is the goal of a press release?

VladimirAG [237]

B. creating positive media attention

4 0

3 years ago

Read 2 more answers

A point outside the production possibilities curve represents a combination of goods that is

pochemuha

Answer:

A production combination outside of the PPF is unattainable by the economy with the given resources and technology.

This represents the Concept of scarcity in economics.

If the economy wishes to achieve the production point outside the frontier, they will have to enhance the production possibility capacity by introducing new technology or finding new resources.

Explanation:

4 0

3 years ago

Leslie has developed a new kind of running shoe, and now she is trying to decide where to sell it. Which of the 4Ps of marketing

Crank

A. Price : hope) ich

6 0

3 years ago

Read 2 more answers