The liability faced by the credit agency for its incorrect reporting of your credit history is that your actual damages, plus an additional amount not to exceed $1,000, plus attorney’s fees.
<h3><u>
What is liability?</u></h3>
- A liability is a debt that a person or business has, typically in the form of money. Through the transmission of economic benefits like money, products, or services, liabilities are eventually satisfied.
- Liabilities are items that are listed on the balance sheet's right side and consist of debts including loans, accounts payable, mortgages, deferred income, bonds, warranties, and accumulated expenses.
- Assets and liabilities can be compared. Assets are items you own or owe money to; liabilities are things you owe money to or have borrowed.
- A liability, in general, is an obligation between two parties that hasn't been fulfilled or paid for.
- A financial liability is an obligation in the realm of accounting, but it is more specifically characterized by prior business transactions, events, sales, exchanges of assets, or services.
Under the Fair Credit Reporting Act, your damages are not $5,000 only. It is also not actual damages plus or $3,000 plus the attorney's fees.
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Answer:
The correct answers that fills the gaps are: discovery, litigation, negotiated settlement, examine, evidence.
Explanation:
The litigation is a conflict of interest qualified and elevated to a jurisdictional authority, by a subject of law, with an intention or claim against another that manifests a resistance or that opposes the approach of the former, as Francisco Carnal suggests.
Some authors consider that the concept of litigation only applies to civil proceedings in contractual disputes, and that the term controversy should be used in criminal proceedings. However, progress has been made regarding this idea, because now, in criminal proceedings, civil action or damages are usually used, which gives rise to extra contractual liability.
Net Income for an organization is the Profit After tax and dividend paid. The formula for Net Income is:
Net Income = Sales - Cost of goods Sold - Operating Expenses - Return and Allowances - Taxes - Cash dividends
From the data given,
Sales = $12 Million
Cost of Goods Sold = $3 Million
Operating Expenses = $3 Million
Interest Expenses = $0.5 Million
Returns and Allowances = $1 Million
Taxes = $0.1 Million
Cash Dividend = $0.4 Million
By putting the variables in the above formula,
Net Income = $12 Million - $3 Million - $1 Million - $3 Million - $0.5 Million - $0.1 Million - $0.4 Million
Net Income = $4 Million
<u>Therefore, the answer is B Net Income is $ 4 Million</u>
Answer:
It would take exactly 37 years
Explanation:
If we suppose that the economy starts at 10,000 billion dollars in 2020, the economy would only double by the year 2057, reaching a value of 20,399 billion dollars.
If we substract 2020 from 2057, we obtain 37, which is the number of years it took for this economy to double growing at a rate of 2% per year.
