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2 years ago

Which of the following is not a legal right of a debtor?

1 answer:

7 0

Debtors are granted some measures or rights. The option that is not a legal right of a debtor is right to declare bankruptcy.

A lot of creditors often do not obey simple rules, and thus uses some kind of deceptive or intimidating actions so as to recover money they are owed.

A lot of creditors often uses threats of violence in trying to recover debt.

In the State of California’s Rosenthal Act, one, as a debtor, is known to have the right to be free from harassing letters and calls from creditors and collection agencies because of unpaid debt.

it is known to stop creditors from constantly disturbing one at home or sending threatening letters on a regular basis.

Learn more about Debtor from

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What is the difference between a co-payment and co-insurance?

Anna11 [10]

A copay is a set rate you pay for prescriptions, doctor visits, and other types of care. Coinsurance is the percentage of costs you pay after you've met your deductible.

4 0

3 years ago

Burrito Corporation has a defined benefit pension plan. Burrito received the following information for the current calendar year

aalyn [17]

Answer:

Pension Expense = $29,200,000

Explanation:

As per the data given in the question,

Service cost = $25,000,000

Interest cost = $15,000,000

Expected return on the plan assets = $10,800,000

( 12% × $90,000,000)

Pension Expense = $29,200,000

($25,000,000 + $15,000,000 - $10,800,000)

Journal entries to record the pension expense :

Pension expense A/c Dr. $29,200,000

To accrued pension cost A/c $6,200,000

To Cash A/c $23,000,000

($29,200,000 - $6,200,000)

3 0

3 years ago

Provide two examples of when you or any person you know may have signed a contract while casually surfing the internet. Your res

Ivanshal [37]

Answer:

ii) The signed documents is the contract

3 0

3 years ago

Gretchen offers $100 to anyone who can return her lost dog, Sparky. Haley returns the dog and requests the money. Gretchen says

Paraphin [41]

Answer:

A. Gretchen is incorrect because there is a binding bilateral contract.

Explanation:

Mainly there are two types of contract i.e unilateral contract and the bilateral contract.

The unilateral contract is the contract when the offer is made to the anyone

while the bilateral contract is the agreement in which the both parties are agreed and bind to perform his/ her obligations.

In the given case, it reflects the bilateral contract as the Haley returns the dog and he requested for the money from the Gretchen

3 0

4 years ago

Suppose the transfers of pillars to the Lantern Division cut into sales to outside customers by 14,000 units. Further suppose th

Sloan [31]

Complete question:

The Pillar Division of the Gothic Building Company produces basic pillars which can be sold to outside customers or sold to the Lantern Division of the Gothic Company. Last year, the Lantern Division bought all of its 25,000 pillars from Pillar at $2.00 each. The following data are available for last year's activities of the Pillar Division:

Capacity in units 320,000 pillars

Selling price per pillar to outside customers $2.05

Variable costs per pillar $1.20

Fixed costs, total $155,000

The total fixed costs would be the same for all the alternatives considered below.

Suppose the transfers of pillars to the Lantern Division cut into sales to outside customers by 20,000 units. Further suppose that an outside supplier is willing to provide the Lantern Division with basic pillars at $1.92 each. If the Lantern Division had chosen to buy all of its pillars from the outside supplier instead of the Pillar Division, the change in net operating income for the company as a whole would have been:

$2,000 decrease.

$14,000 increase.

$1,000 decrease.

$18,000 decrease.

I tried my best to find the question but was unable to find the exact question, instead I found a symmetry question and its solution is as under:

Answer:

Option D. $18,000 decrease

Explanation:

The decrease in the net operating income that would occur due to purchase of all of the pillars from the outside supplier would cost the additional cost to the company which is opportunity cost per pillar and is calculated by using the following formula:

Opportunity Cost = Variable Cost - Purchasing Cost

Here, the variable cost to manufacture the pillar within the factory is $1.2 per pillar whereas the purchasing cost of pillars from outside supplier is $1.92 per pillar.

By putting values, we have:

Opportunity Cost = $1.2 - $1.92 = $0.72

Now for purchasing 25,000 units from the supplier, the total opportunity cost would be:

Total Opportunity Cost = $0.72 * 25,000 Units Purchased from Outside Supplier = - $18,000

The minus sign shows the decrease in the net operating income.

6 0

4 years ago