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Umnica [9.8K]
2 years ago
6

What will most likely cause a lender to deny credit?

Business
1 answer:
8090 [49]2 years ago
7 0

Answer:

A historic credit score of 300

Explanation:

A credit score is a numeric record that expresses the reliability of a borrower to repay loans. The credit score or credit rating is determined by, among other things, credit history, income level, and the individual's income to debt ratio.

Credit scores range between 300 and 850. 300 is the lowest and the poorest score. A score of 300 indicates that the borrower has a bad history of debt repayment. They are always late on repayments,  miss on installments, or have defaulted on loans. Lenders consider such persons as high-risk borrowers and are likely to deny them credit facilities.

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Lei Company accumulates the following adjustment data at December 31. 1. Services provided but not recorded total $1,000. 2. Sup
Zigmanuir [339]

Answer:

Type of adjustment (prepaid expenses, unearned revenues, accrued revenues, or accrued expenses)

1. Services provided but not recorded total $1,000. accrued revenues

2. Supplies of $300 have been used. accrued expenses

3. Utility expenses of $225 are unpaid. accrued expenses

4. Services related to Unearned service revenue of $260 were performed. accrued revenues

5. Salaries of $800 are unpaid. accrued expenses

6. Prepaid insurance totaling $350 has expired. accrued expenses

Status of Each Account before adjustment

1. Services provided but not recorded total $1,000. Revenue understated and cash/account receivable account understated

2. Supplies of $300 have been used. Supplies account overstated and supplies expense account understated

3. Utility expenses of $225 are unpaid. utility expense account understated and Liability account understated

4. Services related to Unearned service revenue of $260 were performed. Revenue understated and Unearned revenue overstated

5. Salaries of $800 are unpaid. Salaries Expense account understated and Liability account understated

6. Prepaid insurance totaling $350 has expired. Insurance expense account understated and Prepaid insurance overstated.

Explanation:

1. Revenue should be recorded when services are performed.

2. Used supplies should be transferred to supplies expenses account.

3. Utility expense should be recorded when it's been accrued.

4. Sales expense should be recorded when it's been accrued.

5. Prepaid Insurance should be transferred to Prepaid expense account when its been expired.

8 0
3 years ago
At the beginning of this year, daily consumption of gasoline in the US amounted to 344 million gallons. It is estimated that for
Shkiper50 [21]

Answer:

335.43 million gallons

Explanation:

price elasticity of demand (PED) = % change in quantity demanded / % change in price

PED = -1.9% / 10% = -0.19, very inelastic

expected price increase $0.40

% change in price = ($3.45 - $3.05) / $3.05 = 13.11%

% change in quantity demanded:

-0.19 = D / 13.11%

D = 2.49%

quantity demanded will decrease by 2.49%, from 344 million gallons to 335.43 million gallons

8 0
3 years ago
Major activities of the Planning Section include:
FrozenT [24]

<u>Answer</u>:

Major activities of the Planning Section include: D) Preparing and documenting Incident Action Plans.

<u>Explanation</u>:

The Planning section is responsible for various activities carried out in Incident Command System or ICS. ICS is used to respond to emergencies in the United States. The activities that befall under this section are mostly related to plannings.

These activities are: collecting and evaluating information, preparing and maintaining documents of incidents, etc. Preparing and maintaining the incident documents is an essential task and requires accuracy in representing the facts and figures.  Hence, we can say that D is the only activity in the planning section of the ICS.

6 0
2 years ago
The Carter Corporation makes products A and B in a joint process from a single input, R. During a typical production run, 50,000
klemol [59]

Answer: $54,000 per production run

Explanation:

As we are dealing with the decision of whether or not to process the good further, the irrelevant cost would be the cost of producing product B from input R.

This is because this cost has already been incurred to produce product B and so is a sunk cost. Sunk costs are irrelevant to the decision to process further.

30,000 units of B were made from 90,000 units R so the cost of B is:

= 30,000 / 50,000 * 90,000

= $54,000

<em />

<em>The options here are probably for a variant of this question.</em>

8 0
3 years ago
Was ist eine swot Analyse zusammengefasst
krek1111 [17]

Answer:

Define a Constitution of the most beautiful and the most beautiful North Cebu tourist spots I choose is Socrates

8 0
2 years ago
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