Answer:
The Act was introduced to: promote a fair and non-discriminatory marketplace for access to consumer credit
Explanation:
The National Credit Act was enacted on the premise that consumers need to be protected from this practice. The Act thus exerts pressure on the credit lenders to assess the consumer's ability to repay, disclose the cost of credit, as well as setting limit on interest that can be charged.
Answer:
The rate at which to discount the payments to find sum borrowed is 12.68%
Explanation:
The discount rate to be used in computing the sum borrowed can e derived from the effective annual rate formula below:
Effective annual rate = (1 + Quoted interest rate/m)^m - 1
quoted interest rate is 8.40
m is the number of months in a year when compounding is done which is 12
effective annual rate=(1+8.40%/12)^12-1
effective annual rate=(1+0.01)^12-1
effective annual rate=(1.01)^12-1
effective annual rate=1.12682503
-1
effective annual rate=0.12682503=12.68%
100,000? because .000157 is a decimal, right?
Answer:
$42,000
Explanation:
Deferred tax liability can be defined as the tax liability which has been due for the current period but has not yet been paid such as installment sales receivable.
Insurance expense of $210,000
Tax rate of 20%
( $210,000 × .20 )
=$42,000
Therefore the amount of the deferred tax liability at the end of 2021 will be $42,000
Answer:
The correct answer is letter "B": False.
Explanation:
Scientific Management also called Taylorism after American economist and father of this theory Frederick Winslow Taylor (1856-1915), looks for increasing companies' efficiency by improving labor productivity and understanding the psychology of workers.
That will be achieved by <em>hiring the correct workers for a job, monitoring their performance and providing training, and dividing the work between management and workers correctly so managers can take care of handling the business operations while employees of executing those operations.</em>
