Answer:
The cost of loan is $600000.
Explanation:
The loan amount = 4000000
The cost of loan refers to the interest rates and other charges that borrower pays. So in the given question first installment is 2400000 in the first year and second installment is 2200000. Here, lets assume any amount other then actual amount of loan amount is the amount spent on loan.
So, the cost of loan = (2400000 + 2200000) – 4000000 = $600000
Answer:
$41,400
Explanation:
Calculation for Paper Clip Company Operating income
OPERATING NET INCOME for Paper Clip Company
Sales revenue 164,800
Less: Purchases of merchandise (89,900)
Utilities for the store (9,600)
Sales commission (10,100)
Rent for store (13,800)
Operating net income $41,400
Therefore the Operating net income will be $41,400
Answer:
Yes
Explanation:
In the context, it is given that I am working as a manager in a financial planning office. One of my employees posted in the twitter that he need $ 500 to pay for his house rent for the month.
I would call the employee and would ask him to remove the post from the social media account as it might hamper the business of our company and sends a negative signal to the customers about the efficiency of the employees.
If the employees of the financial planning office cannot plan his spending and savings, then how the customers will have faith that our office will help them plan their money. It will have a negative effect to our reputation of the company and so I will ask him to remove it form the social media account and prevent anybody from doing this in the future.
Answer:
True
Explanation:
Collateral is an asset used as a guarantee or security for the payment of a loan. It assures the lender that a borrower will pay back the loan.
If an entrepreneur applies for a business loan, the bank will most likely demand collateral. The entrepreneur will need to offer an asset, either property or motor vehicle, that will act as a guarantee for the loan. Should the entrepreneur fail in repayment, the bank can sell the asset to recover their money.
Few, if any, will lend anyone money based on a business idea alone. Many banks will demand a business proposal to be backed with some guarantee to secure funding.
Overmanaging is the most evident mistake Claudia made as a senior accountant.
