5. What is a debt settlement program? (0.5 points) It is a program that claim they can get you out of debt by negotiating your debt to a much lower amount 6. What is bankruptcy? (0.5 points) its the inability to pay back your creditors Lesson 3 (3.0 points) 1.
(0.5 points) Are programs that claim they can get you out of debt by negotiating your debt to a much lower amount and working out a payment plan with your creditors 6. What is bankruptcy? (0.5 points) is the inability to pay back your creditors, to the extent that you file legal papers that put your finances under the supervision of the court system. Lesson 3 (3.0 points) 1. What is an annual percentage rate?
What can happen to a business owner who has personal liability for their company? (0.5 points) If the company is sued or has unpaid bills, creditors may go after the owner's personal assets. 6. What is an entity? (0.5 points) A thing with distinct and independent existence.
Developing short-term and long-term financial goals C. Implementing a plan for achieving goals D. Determining appropriate risk level of participant 8) Preparing personal financial statements is part of which of the five steps of the financial planning process? A. Develop Goals B. Analyze Your Current Financial Position C. Establish and Implement Your Plan D. None of the above 9) Which of the following is an advantage of using a debit card? A. They free customers from carrying cash or checkbooks.
Brandon Smith 9/26/2014 Study Questions 1 Section 1 Study Questions (9.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. Name at least two things financial planning could help you do. (0.5 points) Two things financial planning could help me do is Identify Goals and Spending Priorities.
ACC/497 4-15 Identify five other ways in which the Private Securities Reform Act of 1995 will potentially change auditors' legal liability. Explain how each is of potential benefit to the auditor. 1. The Private Securities Reform Act of 1995 requires that who bring up frivolous or unnecessary law suits to pay the attorney’s fees of the defendant. This is beneficial because gives the auditor relief from legal fees over law suits that are found to be in their favor.
long-term capital loss. business casualty loss. Question 3. 3. (TCO I) Under the cash method of tax accounting, tax deductions are generally taken when: (Points : 5) the liability arises.
To begin her analysis, Mayo estimated what values the assets would have is Mark X were liquidated. Working with the bank’s appraisers and liquidation experts, she concluded that the land and buildings could be sold for $5 million, while the equipment would bring in another $3 million. The receivables could be sold for $0.75 on the dollar, but the inventory would bring only $0.50 on the dollar. Next, Mayo had to make sure that she understood the nature of the claims against Mark X. The accruals currently (that is, at the end of 1992) consist of $5 million of accrued taxes and $2,331,000 of accrued wages.
Therefore the quality of loans is crucial to operational stability. Non-performing loan (NPL) ratio To assess the quality of loans, SDB had classified loans into five categories based on credit risk (normal, special mention, substandard, doubtful and loss). With the last three categories considered non-performing loans (NPLs). The classification based on factors such as cash flows of the borrower, the value of the collateral, the length of overdue payments and the creditworthiness of the guarantor. To measure the asset quality, NPL ratio is considered (NPL divided by gross loan), which a lower NPL ratio implies a better quality of the loan portfolio.
Section 7 Study Questions (9.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. What is a lifestyle? (0.5 points) The way in which a person or group lives.