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2 years ago

Which Act was enacted as a response to the rising level of unsecured consumer debt?

1 answer:

7 0

The Credit Card Accountability, Responsibility, and Disclosure Act of 2009 or also known as the Credit CARD Act was passed on May 22, 2009. This act will make it easier for the consumers to settle their credit card liability balances. This is made as an answer to the increasing number of consumer debt.

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Chapter 3 Homework Questions 3, 4 3. Balance Sheet. Construct a balance sheet for Sophie’s Sofas given the following data. What

Svet_ta [14]

Answer:

<u>BALANCE SHEET</u>

Assets Liabilities

Cash 10,000 Account Payable 17,000

Account Receivable 22,000 Long term 170,000

Inventory 200,000 Total Liab 187,000

non-current assets 100,000 Equity 145,000 (A)

total assets 332,000 Total liab + SE 332,000

Earnings before interest and taxes: 11,000 dolllars

Net income 8,000

Explanation:

(A) solve through the accounting equation

assets = laib + equity

332,000 = 187,000 + Equity = 332,000 - 187,000 = 145,000

income tax expense: 2,000

rate 20%

Earnings before taxes x 20% = 2,000

EBT = 2,000 / 0.2 = 10,000

Net income : 10,000 - 2,000 = 8,000

EBIT: EBT + interest expense

10,000 + 1,000 = 11,000

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2 years ago

An economy produces 10X, 20Y, and 30Z in a year. Base-year prices for these goods are $1, $2, and $3, respectively. Current-year

Diano4ka-milaya [45]

Answer:

$140

Explanation:

The computation of the real GDP is shown below:

For computing the real GDP first we have to determine the inflation rate

Inflation rate formula is

= (Current year price - base year price) ÷ (Base year price)

For Product X

= ($2 - $1) ÷ (1) = 1

For Product Y

= ($3 - $2) ÷ (2) = 0.5

For Product Z

= ($4 - $3) ÷ (3) = 0.33

Now the real GDP is

= (Base year price of X)÷ (Inflation rate) + (Base year price of Y)÷ (Inflation rate) + (Base year price of Z)÷ (Inflation rate)

= (10) ÷ (1) + (20) ÷ (0.5) + (30) ÷ (0.3333)

= 10 + 40 + 90

= $140

8 0

1 year ago

The ______ is a security technique associated with the use of credit cards at the time of purchase that checks additional digits

gayaneshka [121]

Answer:

Card Verification Number

Explanation:

The card verification number is the additional code printed on the back of the debit or credit card. On most cards it is the last three digits printed on the signature strip located on the back of the card. On American Express (AMEX) cards, this is usually a four-digit code on the front of the card. Since this number is not embossed (like the card number), it is not printed on receipts, so it is unlikely that anyone, In addition to the actual cardholder, know him.

6 0

2 years ago

the act that would offer protection to an employer whose employee use the computer system at work to harass his ex-girlfriend is

guapka [62]

Answer: Communication Decency Act

Explanation:

Communication Decency Act was passed in 1996, it's an act that safe guards minors(children, under aged) from getting access to sexual materials from the internet. These is where some control against some channels at home are restricted and offices or firms use it for protection or prevention of workers from some web pages while working.

7 0

1 year ago

Suppose that when the price of a 16 oz. to-go cup of gourmet coffee is $4.25, students purchase 750 cups per day. If the price d

Olin [163]

Answer:

c. students would purchase more than 750 cups per day.

Explanation:

As per the law of demand, an inverse relationship exists between price of a good and it's demand. If price of a good falls, keeping other factors affecting demand as constant, the quantity demanded of the good shall rise.

In the given case, quantity demanded of coffee is 750 cups per day at the price level of $4.25 per cup. When price falls to $3.75 per cup, the demand for coffee shall now rise. So ideally, more than 750 cups shall be purchased by students now.

8 0

1 year ago