Other things equal, a 10 percent decrease in corporate income taxes will

Joseph wants to take out a large loan. He has always paid his bills on time and has a fantastic credit score. He has been with h

oksano4ka [1.4K]

Joseph is probably denied credit due to his bad character, which is an essential element of the Three C's of Credit.

<h3>What are the Three C's of Credit?</h3>

To determine the credibility of a person for grant of a loan or an advance, a lender takes into consideration the Three C's of credit, which are as follows,

Character
Capacity
Capital or Collateral.

Collaterals or Capital help in determination of security of lender from borrower, in case when the borrower is unable to repay the credit. Capacity determines the ability to repay the credit.

Character, on the other hand, helps in determination whether the customer or the borrower's behavior, and the qualities of his or her character in the society.

Hence, the three C's of credit are explained above.

Learn more about the Three C's of Credit here:

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7 0

2 years ago

The following selected transactions apply to Topeca Supply for November and December Year 1. November was the first month of ope

vitfil [10]

Answer:

Note: See attached excel file for the record of the effect of the given transactions in a horizontal statements model.

In the attached excel file, we have:

Assets = Liabilities + Stockholders' Equity = $152,155

Explanation:

In the attached excel file, we have:

Sales tax payable on sales for November Year 1 = $65,500 * 9% = $5,895

Sales tax payable on sales for December Year 1 = $79,500 * 9% = $7,155

Assets = $152,155

Liabilities + Stockholders' Equity = $7,155 + $145,000 = $152,155

Therefore, the accounting equation is proved as follows:

Assets = Liabilities + Stockholders' Equity = $152,155

Download xlsx

6 0

3 years ago

The break-even quantity is a. Fixed Costs/Marginal Cost b. Contribution Margin/Fixed Costs c. Fixed Costs/Price d. Fixed Costs/(

julsineya [31]

Answer:

d. Fixed Costs/(Price – Marginal Costs)

Explanation:

The break-even quantity is the number of units produced and sold at which net income is zero. it is the point at which revenues equals cost.

Break even quantity = Fixed Costs/(Price – Marginal Costs)

or Fixed cost / contribution margin

4 0

4 years ago

A free rider is a(n) Group of answer choices interest group that files an amicus curiae brief. person who enjoys the benefits of

SVETLANKA909090 [29]

Answer: Person who enjoys the benefits of a collective good, action, or service without any effort on their part.

Explanation:

In Economics, Free riders are people who benefit from resources and/or goods that are communal in nature and yet either do not pay or pay an insubordinate amount for enjoying same. Essentially they enjoy the benefits of a collective good without any effort on their part.

As a result, the good might become overused and degraded as it is not being maintained enough.

3 0

3 years ago

Athlete Kalen wishes to retire at age forty-five and receive annual birthday payments of $40,000 beginning on his forty-fifth bi

wolverine [178]

Answer:

1,040,000

Explanation:

We can calculate the money will Kalen need to have accumulated at age forty-five by dividing the annual birthday payments by the effective interest.

DATA

Annual birthday payments = A = $40,000

Effective interest = i = 4%

Calculation

Value at age 45 = A / i + Co

Value at age 45 = (40000 / .04) + 40000

Value at age 45 = 1,040,000

Kalen will need to have accumulated money of 1,040,000 at age forty-five, just prior to his first $40,000 birthday payment.

0 0

4 years ago