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2 years ago

expain the meaning of national credit act and consumer protection act as some of the contemporary legislation

Business

1 answer:

yKpoI14uk [10]2 years ago

5 0

Answer:

national credit act is the act that was introduced to protect consumers against unfair and reckless credit granting by businesses

consumer protection act it aim is to promotes /protect the economic interest of consumers by providing them information so that they make informed choice

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Jake wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $1,299, and the vacati

In-s [12.5K]

Answer:

1. Jake can easily determine that the price of the computer is more than the price of the vacation. ⇒ UNIT OF ACCOUNT

2. Jake has $1,574 in his checking account. ⇒ STORE OF VALUE

3. Jake writes a check for $1,299. ⇒ MEDIUM OF EXCHANGE

Explanation:

The four functions of money are:

unit of account: since money is a common denominator, it helps to assign value to different goods and services.
store of value: you can save money in order to purchase gods and services in the future.
medium of exchange: you can purchase and sell goods and services using. money
standard of deferred payment: money allows loans that require future payments of both principal and interest.

5 0

3 years ago

John and his wife Martha get a divorce. Per the divorce settlement contract, Martha agrees to pay John alimony in the amount of

OleMash [197]

Answer:

c) the condition subsequent has occurred;

Explanation:

Since in the question it is given that the John and his wife Martha get a divorce and according to the divorce settlement contract she agrees to pay the alimony to John for $5,000 per month for his lifetime or until that time when he should remarry

If John remarries after three years, so the alimony benefits is ceased because the subsequent condition has occurred due to which he will not get the amount further in the future

7 0

3 years ago

For a stock to be in equilibrium, two conditions are necessary: (1) The stock's market price must equal its intrinsic value as s

nevsk [136]

Answer:

True

Explanation:

For a stock to be in equilibrium, two conditions are necessary:

(1) The stock's market price must equal its intrinsic value as seen by the marginal investor;

(2) the expected return as seen by the marginal investor must equal his or her required return.

4 0

3 years ago

kotegsom [21]

Answer:

2,000

Explanation:

On average, a person who have a full time job works will work approximately 2,000 hours each year reason been that we have 5 working days in a week and standard working hours in a weeks is 40 hours (5days×8hours daily) which means 8 hours daily , secondly we have 52 weeks in a year, now assuming that person takes 2 weeks off each year for his or her vacation we would have 50 weeks left (52 weeks-2 weeks vacation) which means that the person would be working 50 weeks of the year multiply by 40 hours a week which will give us a total of 2,000 hours each year.

40 work hours weekly× 50 weeks yearly

=2,000 hours of work each year

Therefore on average, a person with a full time job works approximately 2,000 hours each year.

7 0

3 years ago

Suppose that initially a bank has excess reserves of $800 and the reserve ratio is 30%. Then Andy deposits $1,000 of cash into h

ratelena [41]

Answer:

excess reserves after lending = $900

so correct option is C) $900

Explanation:

given data

reserves = $800

reserve ratio = 30%

deposits = $1,000

bank lends = $600

to find out

That bank can lend an additional

solution

first we get required reserves from new deposit that is express as

required reserves = deposit × reserve ratio ......................1

put here value

required reserves = $1000 × 30%

required reserves = $300

and

now excess reserves from new deposits will be

excess reserves = deposits - required reserves .......................2

put here value

excess reserves = $1000 - $300

excess reserves = $700

and

total excess reserves will be here

total excess reserves = old excess reserves + new excess reserves ...........3

put here value

total excess reserves = $800 + $700

total excess reserves = $1500

so that

excess reserves after lending is here express as

excess reserves after lending = excess reserves - amount given to Molly ..........................4

put here value

excess reserves after lending = $1500 - $600

excess reserves after lending = $900

so correct option is C) $900

3 0

3 years ago

expain the meaning of national credit act and consumer protection act as some of the contemporary legislation​

expain the meaning of national credit act and consumer protection act as some of the contemporary legislation