Assessment Tasks Philippines Activity 1: Choose the correct answer. 1. It is a secured or unsecured loan issued by the lender for personal use. A. Business Loan B. Consumer Loan 2. It is a type of loan where a variable interest rate can be one of the conditions. A. Business Loan B. Consumer Loan 3. It is a type of loan where issuance can be based on the borrower's credibility. A. Business Loan B. Consumer Loan 4. It is a type of loan where the money borrowed is used to expand the or support a business. B. Consumer Loan A. Business Loan 5. In case the borrower failed to pay the loan, the lender has the right to claim the borrower's asset as paym A. Unsecured Loan B. Secured Loan 6. A collateral is one of the requirements to avail a loan. B. Secured Loan A. Unsecured Loan 7. Grocery A. Business Loan B. Consumer Loan 8. Truck A. Business Loan B. Consumer Loan 9. Jewelry A. Business Loan B. Consumer Loan

Assessment Tasks Philippines Activity 1: Choose the correct answer. 1. It is a secured or unsecured loan issued by the lender for personal use. A. Business Loan B. Consumer Loan 2. It is a type of loan where a variable interest rate can be one of the conditions. A. Business Loan B. Consumer Loan 3. It is a type of loan where issuance can be based on the borrower's credibility. A. Business Loan B. Consumer Loan 4. It is a type of loan where the money borrowed is used to expand the or support a business. B. Consumer Loan A. Business Loan 5. In case the borrower failed to pay the loan, the lender has the right to claim the borrower's asset as paym A. Unsecured Loan B. Secured Loan 6. A collateral is one of the requirements to avail a loan. B. Secured Loan A. Unsecured Loan 7. Grocery A. Business Loan B. Consumer Loan 8. Truck A. Business Loan B. Consumer Loan 9. Jewelry A. Business Loan B. Consumer Loan

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Choose the letter that BEST corresponds with a correct answer. Write in capital letter the answer of your choice. 1. It refers to the rental fee charged by a lender to an individual for the use of money. D. Principal A. Rate C. Interest 2. The amount of money being borrowed or invested is known as C. Interest B. Time A. Rate D. Principal B. Time 3. This kind of interest is calculated only one for the entire time period of loan. A. Loan B. Investment C. Simple Interest D. Compound Interest 4. The first day of a loan is called as A. due B. loan C. loan date D. due date 5. Which of the following is the percent of interest chredon tha maney per year? A. Rate Ust 6. It is the payment or receipt of equal casn amounts pe! peridd 1or u specified amount of time. Just answer 8,9,12ed amount of fime 912 ntest D. Principal C. Contingent Annuity D. General Annuity 7. When the annuity is made at the end of each period, is called A. Annuity B. Ordinary annuity A. Annuity B. Ordinary annuity C.…
Customer loans are classified on a Depository Institution (DI)'s balance sheet as Select one: A. liabilities, because the customer may default on the loan. B. assets, because the DI earns servicing fees on the loan. C. assets, because the DI's major asset is its client base. D. assets, because DIs originate and monitor loan portfolios. E. liabilities, because the DI must transfer funds to the borrower at the initiation of the loan.
7. Types of credit extension? Which one is biggest?Writing the lending process to provide loan for customer
Q5. Corporates needs business loans for their day to day operations, suppose you are workingin credit department in Private Sector Bank and a customer approach you for taking termloan, the basic characteristics of term loans are that term loan commitments are of long term.as a banker how would you decide whether to provide him a term loan or not? Along withthis also explain the documents required for term loan by customer?
How do you create a loan in Quickbooks? A. Select Banking > Create Loan B. Use the loan manager C. Create the loan account D. Create a liability account
Bank Muscat advances secured and unsecured loans to their customers. If Bank Muscat is issuing secured loans, identify which one of the following is the reason for bank to issue secured loan? a. To increase interest on loans by the banks b. To sell the collateral in the event of non-refund of the loan c. To have long standing relationship with customer d. To reduce the loan amount and time period
Fully understanding the contract terms of a loan or credit card is... Select one O A. Not very important because it is all just standard language OB. Essential to prevent you from getting into an unexpected situation OC. Something you only need to worry about if you are buying a house OD. Not important because you should just trust other people
A bank is considering implementing a business rules management system for assessing the riskand creditworthiness of individuals as part of the loan approval process.• List and explain 3 benefits of such a system?• List 2 potential legal or ethical issues that might arise in the use of such a system
21. Open account credit is a credit facility offered by retailers or financial institutions which allow the customers to borrow up a pre-determined amount to pay for purchases. Which of the following is/are categorized as open account credit? i. Credit card ii. Personal loan iii. Car loan iv. Overdraft
Consumers should comparison shop for credit just as they would for any other consumer good or service. How might a consumer's stage of the financial life cycle, income, net worth, or credit score affect the availability of loan sources and the associated cost of the loans offered? Question content area bottom Part 1 Which of the following statements is correct? (Select best answer below.) A. Typically, stages of the financial life cycle, income, and net worth move inversely with credit score, and the cost of the loans tends to be lower in early financial life cycle stages due to a sufficient supply of fund sources. B. Typically, stages of the financial life cycle, income, net worth and your credit score move in unison, and the cost of the loans tends to be lower in early financial life cycle stages due to a sufficient supply of fund sources. C. Typically, stages of the financial life cycle, income, net worth and your credit score…
1. In a Loan Management System, the loan applicant will have to submit these requirements including the loan application form. In a scenario where the loan applicant has incomplete requirements, what do you think is the error when this is translated to DFD? A. Black Hole B. Grey Hole C. Miracle D. Spontaneous Generation 2. XYZ Company has been using a records management system to track where their documents are being delivered and processed. Since the use of this system, they have saved time, have been more productive and efficient. These benefits produced by the system are known as what? A. Economic Benefits B. Intangible Benefits C. Operational Benefits D. Tangible Benefits
Consumers should comparison shop for credit just as they would for any other consumer good or service. How might a consumer's stage of the financial life cycle, income, net worth, or credit score affect the availability of loan sources and the associated cost of the loans offered? Question content area bottom Part 1 Which of the following statements is correct? (Select best answer below.) A. Typically, stages of the financial life cycle, income, net worth and your credit score move in unison, and the cost of the loans tends to be lower in early financial life cycle stages due to a sufficient supply of fund sources. B. Typically, stages of the financial life cycle, income, and net worth move inversely with credit score, and the cost of the loans tends to be lower in early financial life cycle stages due to a sufficient supply of fund sources. C. Typically, stages of the financial life cycle, income, net worth and your credit score move…