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Vikki [24]
3 years ago
14

What is an example of credit? A) A person withdraws money from a bank account using an ATM card. B) A person borrows money from

a finance company to buy a car. C) A person deposits a paycheck into a savings account. D) A person pays interest on an existing mortgage.
Business
2 answers:
EleoNora [17]3 years ago
8 0

B) A person who borrows money from a finance company to buy an car

ahrayia [7]3 years ago
7 0

Answer:

b

Explanation:

An example of credit is when a person borrows money from a finance company to buy a car. Once credit is extended to a person and is used for a purchase, the credit is converted to a debt, and the person has the financial obligation to repay the loan.

You might be interested in
An aging of a company's accounts receivable indicates that $8,000 are estimated to be uncollectible. If Allowance for Doubtful A
joja [24]

Answer:

c. debit to Bad Debts Expense for $6,900.

Explanation:

Allowance for Doubtful Accounts  $1,100 credit balance,

Estimated Un collectibles                $8000 credit

Required Adjustment                    $ 6900 credit

The adjustment to record bad debts for the period will require a

c. debit to Bad Debts Expense for $6,900.

Bad Debt Expense $ 6900 Dr

Allowance for Doubtful Accounts $ 6900 Cr

Alternatively if the allowance account had a debit balance the entry would have been posted adding the two amounts.

7 0
3 years ago
Windathon, Inc. expects sales volume totaling $500,000 for June. Data for the month follows:
ivann1987 [24]

Answer:

Here the variable cost can be computed using the following formula:

Variable cost = (Sales commissions  + Shipping expense + Miscellaneous selling expenses) ×Sales

Variable cost = (4% + 1% + 3/4%) x $500,000 = $28,750

Fixed cost = Sales manager's salary + Advertising expense + Miscellaneous selling expenses

= $30,000 + $25,000 + $2,100

= $57,100

<em>Total selling expense budget = Variable cost + Fixed cost</em>

<em>= $28,750 + $57,100 </em>

<em>= $85,850</em>

8 0
3 years ago
On September 1, 2021, Custom Shirts Inc. "entered into a lease agreement appropriately classified as an operating lease". The le
Savatey [412]

Answer: Please refer to the explanation section

Explanation:

The question is not clear in terms of when is the financial year end, we only its 2021. We will assume the financial year started in January 2021 and ended December 2021

Operational Lease is an agreement where the lessor (owner of the asset)  allows the lessee (user of the asset) to only use the asset without the transfer of ownership. Ownership of the asset is not transferred to the lessee/ user of the asset. lease Payments/ Rental payments are considered as expenses and are recognize in the income statement.

Custom Shirts Inc entered into a Lease agreement on the 1st of September 2021. assuming the financial year ends on December 2021, the expense Recognized in the Income statement for the year ended December 2021 will

$ 24000 x 4 months/12 months =$ 8000

8 0
3 years ago
How do I surprise my mom with a special guest and get her to make extra dinner for them so that they can eat with us to without
umka21 [38]

Answer:

tell her to make extra!

Explanation:

you can use excuses such as wanting to pack leftovers for a meal the next day, or saying you're extra hungry

6 0
3 years ago
During which of the following stages of socialization do people first learn about the organization and job?a. Role managementb.
Tems11 [23]

Answer:

Letter b is correct. <u>Encounter.</u>

Explanation:

It is through this stage of socialization that new employees begin to learn about the work tasks they will perform and receive appropriate training.

In this phase, employees' expectations are also related to the whole work environment in general, such as employment, their new teammates and supervisors, in order to confront an expectation generated with the reality of the work.

Therefore socialization is relevant for the new employee to replace their expectations generated by the standards expected by the organization.

7 0
3 years ago
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