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katovenus [111]
3 years ago
7

Adam borrowed money to buy a new car. The bank has a lien on the car. What could happen if Adam doesn't make his payments on tim

e.
Business
1 answer:
posledela3 years ago
4 0

Answer: The bank could sell the car.

Explanation:

A lien refers to a claim against an asset which is used as a collateral in order to satisfy a debt.

Since we are informed that Adam borrowed money to buy a new car and that the bank has a lien on the car, in a situation whereby Adam doesn't make his payments on time, the bank can end up selling his car and use the fund to settle the debt that he owes.

You might be interested in
Which section of a Schumer Box discusses what happens when a payment is late?
Mars2501 [29]

Answer:

Penalty APR and When It Applies

Explanation:

A Schumer Box is a table that explains the costs of a credit card in the United States. It has sections like:

-Annual Percentage Rate (APR) for Purchases: It indicates the annual rate that you will be charged when you use the credit card to make a purchase.

-How to Avoid Paying Interest on Purchases: It indicates the specific situation in which you would be exempted from paying interest on a purchase.

-Penalty APR and When It Applies: It indicates the specific situations in which you would have to pay a higher interest rate as an infraction for things like making a late payment.

-Variable Rate and Balance Computation: It indicates how the interest rate can change and how the finance charge is calculated.

According to this, the answer is that the section of a Schumer Box that discusses what happens when a payment is late is Penalty APR and When It Applies.

8 0
3 years ago
N _____, managers and their subordinates meet whenever the need to discuss ongoing progress and areas for improvement arises.
Finger [1]
The executive team, the administration board and the shareholders meet with the rest of the departments when there is need to adress matters concerning the firms productivity 
6 0
4 years ago
In late April, the Acme Construction Co. submitted a $1,200,000 progress billing on a construction contract.On May 2, the bill w
patriot [66]

Construction expenditures should be debited when <u>D. The bill is approved for payment.</u>

<u>Explanation:</u>

In the above scenario, Acme Construction Co. submitted bill amount of $1,200,000 on a construction contract. The payment of the bill was approved on May 2. According to the contract, 10% was subject to retention.

This construction expenditure is debited when the bill is approved for payment. Contract includes all the details regarding payment and terms and conditions between the companies or parties.

Once the bill submitted by company is approved, then the retention amount will be automatically debited.

8 0
3 years ago
You were recently promoted to a management position at a large department store. One of your new responsibilities is recruiting
Wittaler [7]

Answer:

General mental ability

Explanation:

The job role in this scenario is for Assistant manager position requires someone that can learn quickly and rapidly acquire, process, and synthesize information.

This requires someone with general mental ability.

General mental ability is the skill one posses to easily understand verbal information, process numbers and information, and ability to see logical relationships between different concepts.

Other intelligence types include Spatial-visual intelligence, Logical-mathematical intelligence, Bodily-kinesthetic intelligence

8 0
4 years ago
Which of the following is NOT an example of the technical support that the International Monetary Fund (IMF) provides to governm
skad [1K]

Answer:

Halth support

Explanation:

IMF (International Monetary Fund), with its International Monetary Fund or more commonly known abbreviation, is an international organization that has duties such as following the global financial order, conducting audits and organizations on issues such as stock exchange, exchange rates, payment plans, as well as providing technical and financial support. To prevent the international trade from shrinking by giving credit to temporary (short-term) payment difficulties that may arise in the balance sheets of the European states; The World Bank was established to provide reconstruction of European states and to eliminate the inherent imbalances in the balance sheets by giving long-term investment loans.

The IMF mainly offers technical assistance and training in four areas:

- Monetary and financial policy (monetary policy tools, banking system supervision and restructuring, external management and operations, payment clearing systems, and central banks);

- Financial policy and management (tax and customs policy and management, budgeting, spending management, social security networking and internal and external debt management);

- Compilation, management, distribution and improvement of statistical data;

- Advice on economic and financial legislation.

6 0
4 years ago
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