All categories

3 years ago

Drag each credit plan to its description.

Business

2 answers:

GarryVolchara [31]3 years ago

6 0

Answer: (1)revolving credit, (2)installment account,& (3)charge card

Explanation:

(1)Borrowers have a fixed credit line that is replenished as the outstanding balance is paid off.

(2)Borrowers have to make regular payments under fixed terms.

(3)Consumers can shop using credit at specific locations.

scoray [572]3 years ago

6 0

Answer:

Borrowers have a fixed credit line that is replenished as the outstanding balance is paid off. -Revolting Credit

Consumers can shop using credit at specific locations. -Charge Card

Borrowers have to make regular payments under fixed terms. -Installment Account

I took the test on plato and got it right

You might be interested in

On January 1, 2020, National Retail purchased $100,000 of GEH Company bonds at a discount of $10,000. The GEH bonds pay 6% inter

rusak2 [61]

Answer:

Cr Interest revenue $3,624

Explanation:

Dr Investment in bonds 100,000

Cr Cash 90,000

Cr Discount on investment in bonds 10,000

the first coupon payment:

(90,000 x 4%) - $3,000 = $600

Dr Cash 3,000

Dr Discount on investment in bonds 600

Cr Interest revenue 3,600

the second coupon payment:

(90,600 x 4%) - $3,000 = $624

Dr Cash 3,000

Dr Discount on investment in bonds 624

Cr Interest revenue 3,624

4 0

4 years ago

On January 1, Year 1, the Hoverman Corporation made amendments to its defined benefit pension plan, resulting in $150,000 of pas

Lapatulllka [165]

Answer:

Check the explanation

Explanation:

In IFRS according to IAS 19 all past service cost is recognized in the net income in the period in which amendment (change) is made by entity for defined benefit pension, it does not matter what is the status of the employees who will benefit the change. So in Year 1 $150000 will be expended completely and in subsequent years the amount is $0

Year 1 =$150000

Subsequent years= $0

b) In US GAAP the past service cost is recorded in Accumulated other comprehensive income in the year of amendment. It is amortized over the future working life of the participants.

Year 1 is year of adoption hence $0 is amortized because $150000 is included in Accumulated other comprehensive income.

Subsequent years: (150000/10=15000) $15000 will be amortized for each year for 10 years.

3 0

4 years ago

A COMPANY HAS RECENTLY OURSOURCED ITS PAYROLL PROCESS TO A THIRD-PARTY SERVICE PROVIDER. AN AUDIT TEAM WAS SCHEDULED TO AUDIT PA

Olin [163]

C. The third party is a desperate business. If it sees a major flaw from the third party it could possibly take action but this isn't as much of a worry as one would think.

7 0

3 years ago

Aunt Mabel promised to give you $9000 when you successfully complete your freshman year, $6000 when you successfully complete yo

Blababa [14]

Solution :

At every stage the formula used will be :

$\frac{\text{available balance}}{(1+\text{interest rate})}= \text{required bank balance}$

After the junior year, Aunt Mabel's bank balance will be :

$=\frac{8000}{1.0925}$

= $ 7,322.65

Aunt Mabel's bank balance after sophomore year will be :

7,322.65 + 1000 = $ 8,322.65

$=\frac{8,322.65}{1.0325}$

= $ 8060.677

After the freshman year, bank balance of Aunt Mable's will be :

8060.677 + 6000 = $ 14,060.677

$=\frac{14,060.677}{1.0250}$

= $ 14.0606

If Aunt Mabel can predict the interest rate with accuracy, she will have to deposit :

$ 14.0606 + $ 9000 = $ 9,014.06

$=\frac{9014.06}{1.0525}$

= $ 8,565.241

4 0

3 years ago

Shortage is _____.

viktelen [127]

Correct answer: "<span>C. a situation in which quantity demanded is greater than quantity supplied"

Shortage is also referred to as excess demand - meaning that there is a greater demand than what there is to give. The opposite concept would be economic surplus.
</span>Example: when the need for food in a certain village is greater than what is supplied or produced in that village, there a shortage of food.

3 0

4 years ago

Read 2 more answers