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skad [1K]
3 years ago
15

MVJ Corp., a market research firm, borrows $2 million from trimitium bank. while negotiating with the bank, the firm signs a pro

missory note, which specifies that the firm must pay the borrowed amount in 90 days with interest. however, the bank also requires the firm's inventories and receivables to be pledged as collateral to back the loan. which of the following financing options is being offered by trimitium bank in the given scenario?1. spontaneous financing2. short-term bank loans3. bank debit4. factoring
Business
1 answer:
atroni [7]3 years ago
8 0

Answer:

Option "2" is the correct answer to the following statement.

Explanation:

A short-term loan is a form of loan received to endorse short term business and personal wealth for a very short period. It is a tempting and temporary option, for most of the short term businesses which are not easily eligible for a loan from a financial institution.

This type of loan mostly paid back in a very short period usually in 12 months.

In this case, MVJ gets a loan for 90 days or 3 months so it is considered a short term loan.

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Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance
Andreyy89

Answer:

Net Cash provided by Operating Activities  $20,900.00

Explanation:

Cash Flows from Operating Activities  

Net Income        $16,000.00

Adjustments to reconcile Net Income:

+ Depreciation expenses.

$6,000.00

- Increase in Accounts receivables.

($6,000.00)

+Decrease in Inventory

$4,000.00

+Increase in Salaries Payable.

$900.00

Net Cash provided by Operating Activities   $20,900.00

5 0
3 years ago
On January 1, 2009, Diego owed $14,033 to his friend Ricardo, who was kind enough not to charge Diego any interest. Each month d
aleksandrvk [35]

Answer:

$481

Explanation:

Amount paid = Amount lent - Amount left

Amount paid = $14,033 - $8,261

Amount paid = $5,772

Average amount paid each month = Amount paid / Number of months

Average amount paid each month = $5,772 / 12

Average amount paid each month = $481

So, the average amount of Diego's monthly payments is $481.

6 0
3 years ago
On june 1, 2022, spk company signed a $100,000, one-year, 6 percent note payable. Interest and principal are due at maturity. Wh
posledela

$3500 sum will spk record for interest expense in their december 31, 2022

Interest = $ 6000 for 12 months.

From June to December there will be 7 months due,

therefore 7/12x6000 = $ 3500

An interest expense is the fetched brought about by an substance for borrowed reserves. Intrigued cost may be a non-operating cost appeared on the salary explanation. It speaks to intrigued payable on any borrowings—bonds, credits, convertible obligation or lines of credit. It is basically calculated as the intrigued rate times the exceptional foremost sum of the obligation. Interest expense on the income statement represents interest accrued during the period covered by the financial statements, and not the amount of interest paid over that period. While interest expense is tax-deductible for companies, in an individual's case, it depends on their jurisdiction and also on the loan's purpose.

Learn more about Interest expense here

brainly.com/question/14185533

#SPJ4

6 0
1 year ago
It is important for managers of corporations to act ethically​ ___________. ​(Select the best choice​ below.) A. because a viola
scZoUnD [109]

Answer: B. because it is important for a business to be trusted by investors, customer and the public if it is to succeed

Explanation: Ethics is defined as the set of moral principles and standards or judging whether something is right or wrong and as such, it is quite vital for managers of corporations, firms and businesses to act in an ethical manner. This is because it is important for a business to be trusted by investors, customer and the public if it is to succeed in both the short and long term.

7 0
3 years ago
Production decision are part of what economic system<br> ?
Elena L [17]

Explanation:

Its part of the command economy

4 0
3 years ago
Read 2 more answers
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