All categories

3 years ago

Which expense is a bank least likely to extend a line of credit for?

Business

2 answers:

STatiana [176]3 years ago

8 0

Answer:

A flat screen Tv

Explanation:

A line of credit is a type of loan provided by banks and specific interest is charged on the portion of the borrowed fund. You can withdraw fund from the account at anytime needed until the approved line of credit is exhausted.

It is advised to use LOC for major expenses that are essential to add value to lives or improve livings but not luxury goods like a television considering the cost related to it .

vovangra [49]3 years ago

6 0

A flat screen TV

The other options all <em>create value</em>, while a TV does not.

You might be interested in

The average cost of a single sales call to a potential b2b buyer in the u.s. is expensive and could cost about:

Colt1911 [192]

<span>A single sales call to a potential B2B buyer in the United States could cost about $400. A B2B sales call is a business to business sales call. The closing of a sale can be hit or miss, but it is said that any contact with the buyer can be helpful later.</span>

5 0

3 years ago

May, Inc. had the following transactions in 2019, its first year of operations: Issued 22,000 shares of common stock. The stock

tatuchka [14]

Answer:

The amount of paid-in capital $

Common stocks (22,000 x $2) 44,000

Preferred stocks (1,800 x $120) 216,000

Amount of paid-in capital 260,000

The correct answer is C

Explanation:

The amount of paid-in capital is the total of paid-in capital of common stocks and paid-in capital of preferred stocks. The paid-in capital of each stock is computed as number of stock multiplied by par value of each stock.

6 0

3 years ago

Thomas Book Sales, Inc., supplies textbooks to college and university bookstores. The books are shipped with a proviso that they

nata0808 [166]

Answer:

The following summarizes the solution to the given problem.

Explanation:

The given values are:

Sales,

= $660,000

Expenses,

= $255,453

Received cash revenues,

= $605,934

(a)

According to the accrual, profits would be acknowledged and therefore not necessarily received on the occasion of purchase.

⇒ $Net \ income=Sales-Expense$

On substituting the given values, we get

⇒ $=660,000-255,453$

⇒ $=404,547$ ($)

(b)

⇒ $Net \ Income =Received \ cash \ revenues-Expenses$

On substituting the given values, we get

⇒ $=605,934-255,453$

⇒ $=350,481$ ($)

(c)

The reliable financial foundation again for a financial consultant is more helpful because it demonstrates or represents the organization's appropriate financial status.
It accepts the profits throughout a similar time frame.

5 0

3 years ago

Which of the expenses listed is a variable expense? A.electricity B.health insurance C.emergency fund D.retirement deduction

rjkz [21]

A) the amount of electricity you use can vary from month to month

8 0

3 years ago

Swifty Corporation acquired 18200 shares of its own common stock at $21 per share on February 5, 2020, and sold 9100 of these sh

dybincka [34]

Answer:

the journal entry to record the purchase of treasury stocks

February 5, 2020

Dr Treasury stocks 382,200

Cr Cash 382,200

the journal entry to record the sale of 9,100 stocks

August 9, 2021

Dr Cash 254,800

Cr Treasury stock 191,100

Cr Additional paid in capital 63,700

7 0

2 years ago