Answer:
1. False
The higher the figure, the higher the risk. Kindly note that loans are usually insured against default. The higher the amount insured, the higher the premium payable as insurance on such amounts.
2. False
It does not make for good internal control to have one person regardless of their position to have the final say on loans of great magnitude such as $5 Million. This can quickly degenerate into a situation where the officer involved is tempted to abuse that power. It makes for good corporate governance and risk management to ensure that the board is responsible for loans of such magnitude.
3. True
If a bank lost $100 in a thousand places, from loan default, that translates to a loss of $100,000. This relatively is large however it is small and will have less impact that a loss of a million dollars in 3 places. That's $ 3,000,000.
As already indicated, it makes for good loan disbursement governance, to ensure that there is at least two persons involved in the risk acceptance criteria (RAC) evaluation and loan disbursement process.
4. False
Separation of duties is the foundation of good internal control. It allows for greater objectivity. It is also key to carefully select signatories to loan disbursements. They have to be people of impeccable character and the company must exercise proper risk management to ensure that every protocol such as opportunity that may create the impulse or inclination to breach policy is removed completely.
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A decline in the real GDP that occurs for at least two or more quarters is called a depression. The correct option among all the options that are given in the question is option "b". There is a very thin line of difference between recession and depression. when the real GDP falls for a repeated number of periods, then it is depression.
The periodic rate for this card is 12 month period.
<u>Explanation:</u>
APR is short for Annual Percentage Rate, which is the intrigue you're charged over a year time span. For example, a card with 24% APR costs 2% every month on balances that you convey from month to month.
Whatever rate is charged on the credit card is for a period of twelve months which is a period for a year. The interest rate is the cost for using the amount of credit which has been offered by the bank to the owner of the credit card.
Answer:
$35,000
Explanation:
The Tax Cuts and Jobs Act increased the percentage of bonus depreciation for qualifying assets from 50% to 100% for those assets acquired and put into service between September 27, 2017 and January 1, 2023. If this asset qualifies for a bonus depreciation, then you can depreciate 100% during the first year. You can also use the bonus depreciation with a section 179 expensing in order to depreciate expensive assets, but the section 179 expensing comes first and then the bonus depreciation.
First, we need to understand these types of economies.
Command economy - controlled centrally by a government
Market economy - decisions are determined by the market
<span> Traditional economy - decisions are based in customs and traditions
</span>
Business decisions are influenced by consumer demand.------ M
Change happens slowly. ------ T
Economic growth is not a high priority. ------ T
People choose their careers. <span>------ M</span>
Resources are owned by the government. ------ C
The government makes most business decisions ------ C