Question 1 The credit to the consumer is when the company extend credit to other businesses....
Question 1
The credit to the consumer is when the company extend credit to other businesses.
True
False
QUESTION 2
Trade credit is the credit given to final customers.
True
False
QUESTION 3
When businesses granted a credit to its clients for things that sell is called accounts receivable.
True
False
Homework Answers
Question 1
The credit to the consumer is when the company extend credit to other businesses.
False. Credit to the consumer is when company extend credit to consumer.
QUESTION 2
Trade credit is the credit given to final customers.
False
Trade credit is given by one trader to another trader for purchase og goods or services.
QUESTION 3
When businesses granted a credit to its clients for things that sell is called accounts receivable.
True
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Question 1
The credit to the consumer is when the company extend credit to
other businesses....
Proposal #1 would extend trade credit to some customers that previously have been denied credit because they were considered poor risks. Sales are projected to increase by $240,000 per year if credit is extended to these new customers.
Proposal #1 would extend trade credit to some customers that previously have been denied credit because they were considered poor risks. Sales are projected to increase by $240,000 per year if credit is extended to these new customers. Of the new accounts receivable generated, 6% are projected to be uncollectible. Additional collection costs are projected to be 2% of incremental sales (whether they actually end up collected or not), and production and selling costs are projected to be 78% of...
B Excel #1 Proposal #1 would extend trade credit to some customers that previously have been deni...
B Excel #1 Proposal #1 would extend trade credit to some customers that previously have been denied credit because they were considered poor risks. Sales are projected to increase by $120,000 per year if credit is extended to these new customers. Of the new accounts receivable generated, 6% are projected to be uncollectible. Additional collection costs are projected to be 5% of incremental sales, and production and selling costs are projected to be 80% of sales. Your firm expects to...
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Question 4 (1 point) If a company determines that they will no longer be able to collect an account receivable, then this account receivable will be "written off" and removed from that company's balance sheet. True False Question 5 (1 point) When a company receives cash from a customer for a receivable that was previously written-off, the net affect on total assets is $0. True False Question 6 (1 point) On July 1st, a...
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accounts receivables are also called trade receivables. This Question: 2 pts 1 of 49 (0 Accounts...
accounts receivables are also called trade receivables.
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A Limited Liability Company (LLC) can be formed with only 1 member. True False QUESTION 11 The type of liability where every party is only liable for their pro-rata share of the indemnity is called: O Joint Liability Several Liability Joint and Several Liability All of the above QUESTION 12 The Financing form where a company sells the Accounts Receivable due from its customers is called: Account Receivable Credit Line Factoring Asset Backed Loan SBA Loan Indemnity is a sum...
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thank you so much!
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accounts receivables are also called trade receivables.
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