REAA - FNSCRD401 - Case Study (Tom Smith) v1.1
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FNSCRD401 - Assess credit applications (Release 1) (Case Study –
Tom Smith) Page | 1
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© Real Estate Academy Australia RTO 32436 Version 1.1 - January 2022 Case Study (Tom Smith) Scenario Instructions
FNSCRD401 - Assess credit applications (Release 1) (Case Study –
Tom Smith) Page | 2
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© Real Estate Academy Australia RTO 32436 Version 1.1 - January 2022 What you need to do: Answer the questions below by writing in the space provided. You are required to answer all questions correctly. If correct, you will see ‘Satisfactory’ or if incorrect you will see ‘Not Satisfactory’ in your grades section of your learner portal next to the assessment name. The assessor will provide feedback and a Record of Results in the assessment task once graded. You will be required to resubmit your work for any ‘Not Satisfactory’ assessment tasks. What you will need: Use the learner material provided in your online student portal as well as research materials such as books, internet, magazines, workplace documentation etc. to assist you in gaining the knowledge required to answer the questions. Remember that the assessment is completely self-paced and open book, so you are able to use whatever resources you have to answer the questions. What you need to submit: Your answers to these questions. How to Submit your Assessment:
Upload your completed document into the “FNSCRD401 - Case Study (Tom Smith) assessment task [1]” in your learner portal. You can drag and drop the file into the window or use the add file icon in the top left of the submission window and select the file you wish to upload by using the browse/choose file option. Click on finish attempt to submit it for grading.
FNSCRD401 - Assess credit applications (Release 1) (Case Study –
Tom Smith) Page | 3
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© Real Estate Academy Australia RTO 32436 Version 1.1 - January 2022 You are a credit officer working for ABC Bank and have been assigned a credit application for the client Tom Smith received from REAA Finance & Mortgage Broking Team. Review the completed application form and the supporting documents provided in the learner portal and then answer the questions that follow.
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FNSCRD401 - Assess credit applications (Release 1) (Case Study –
Tom Smith) Page | 4
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© Real Estate Academy Australia RTO 32436 Version 1.1 - January 2022 Question 1 Verify the information and documentation provided by the mortgage broker. According to Westpac Supporting Documentation Checklist
, is there any missing supporting documentation that you should require the mortgage broker to provide you with? - 3 months bank account statement for all savings and transaction account - Superannuation statement - Details of all ongoing monthly expenses - Proof of contract of sale of the property purchasing - Proof of deposit by providing bank statement - Credit card statement if client has credit card.
FNSCRD401 - Assess credit applications (Release 1) (Case Study –
Tom Smith) Page | 5
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© Real Estate Academy Australia RTO 32436 Version 1.1 - January 2022 Question 2 Analyse the information provided, are you comfortable with the accuracy and sufficiency of evidence supplied to support the credit application? (Focus on the Identity Documents and the payslips and highlight what information you would focus on the ensure accuracy and sufficiency of this evidence). We would focus on below information to ensure accuracy and sufficiency of this evidence. -ID number -First name and last name -Residential address -Expiry date of documents -ID issuing authority -Issue date of documents Please note Passport Date of issue is missing and Payslip tax portion missing therefore hard to determine net pay.
FNSCRD401 - Assess credit applications (Release 1) (Case Study –
Tom Smith) Page | 6
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© Real Estate Academy Australia RTO 32436 Version 1.1 - January 2022 Question 3 Now that you have verified and analysed Tom’s application form and supporting documents, you are to rate the credit risk of this submission using the ABC Bank risk rating scale. For each of the four criteria (age, employment, security, and credit score) you are to determine the level of risk associated with the criteria. For Credit Rating ABC bank allows: ●
1 point for each "Low" ●
2 point for each "Moderate" ●
3 points for each "High" ●
4 points for each "Extreme" Complete the Risk Rating table for Smith according to ABC Bank policy and procedures below; Risk Rating Point (s) allocated: Age Low 1 Employment Low 1 Security Low 1 Credit Score Low 1
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© Real Estate Academy Australia RTO 32436 Version 1.1 - January 2022 Question 4 According to the risk rating matrix below, are you in a position to provide a decision for this application? (If yes, what would it be, if not, what should you do?) Based on risk rating matrix, we are in position to approve application as risk ratings are Low for the application. Question 5 What security to back up the home loan is ABC Bank likely to request to proceed with this application? ABC bank likely to proceed with application of the home loan backed by property.
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Question 8 of 20
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Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of
the transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No
Entry" for the account titles and enter O for the amounts.)
connect
Owner invested $66,500 in exchange for common stock of the corporation.
Hired an employee to be paid $500 per week, starting tomorrow.
Paid two years' rent in advance, $7,100.
Paid the worker's weekly wage.
Recorded service revenue…
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Codification Exercises
If your school has a subscription to the FASB Codification, go to http://aaahq.org/asclogin.cfm to log in and prepare responses to
the following. Provide Codification references for your responses.
CE6-1 Access the glossary ("Master Glossary") to answer the following.
(a) What is the definition of present value?
(b) Briefly describe the term "discount rate adjustment technique."
CE6-2 In addition to the list of topics identified in footnote 1 on page 268, identify the specific Codification guidance related to
the use of present value in goodwill impairment.
CE6-3 What is interest cost? Briefly describe imputation of interest.
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Problem 1
Balance Shet
Income Statement
PT. MaTaHtari
PT. MATAH+ari
For the year Ended December 31
For the year Ended December 31
2019
2018
ASSET
Sales Revenue
10.000.000.000
Cash
550.000.000
700.000.000
Cost of Good Sold
6.400.000.000
Marketable Securities
500.000.000
300.000.000
Gross Profit
Account Receivable
700.000.000
550.000.000
Inventory
750.000.000
650.000.00D
3.600000.000
Total Currevt Assit
2.500.000.000
2.200.000.000
Operating Expenses
Selling Expenses
200.000.000
Gross Fixed Asset
3.000.000.000
General & Administrative Expenses
150.000.000
4.000.000.000
Less : Accumulated Depreciation
Depreciation Expenses
250.000.000
500.000.000
200.000.000
Nett Fred Assit
Total Operating Expenses
3.500.000.000
2.800.000.000
600.000.000 Operating Profit
TOTAL ASSET
6.000.000.000
5.000.000.000
3.000.000.000 Interest Expenses
JABILITIBS E STOCKHOLDER'S…
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S FULL HANDBOOK 2020-X
C Clever | Portal
e Using a Credit Card: Tutorial
O Simple interest calculator||
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Stock market today.
Using a Credit Card: Tutorial
Activity
Event
Credit Payment Interest Principal Balance
$500.00
$0.00
$0.00
$500.00
Payment 1
$100.00
$7.40
$92.60
$407.40
Payment 2
$100.00
$6.23
$93.77
$313.63
Payment 3
$100.00
$4.79
$95.21
$218.42
Payment 4
$100.00
$3.02
$96.98
$121.44
Payment 5
$100.00
$1.86
$98.14
$23.30
Payment 6
$23.64
$0.34
$23.30
$0.00
Grand Total
$500
$523.64
$23.64
$500.00
$0.00
Study this payment schedule and answer the following questions.
Part A
How long will it take to pay off this credit card?
B IU
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Font Sizes
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Chapter 3
Question 2 of 5
The ledger of Blossom, Inc. on March 31, 2022, includes the following selected accounts before adju
Debit
Credit
Prepaid Insurance
$2,000
Supplies
2,000
Equipment
29,000
Unearned Service Revenue
$8,500
An analysis of the accounts shows the following.
1.
Insurance expires at the rate of $400 per month.
2.
Supplies on hand total $1,400.
3.
The equipment depreciates $300 per month.
4.
During March, services were performed for two-fifths of the unearned service revenue.
Prepare the adjusting entries for the month of March. (List all debit entries before credit entries. Credit account titles are autn
Credu
indented when the amount is entered. Do not indent manually.)
Debit
Date
Account Titles and Explanation
No.
rch
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Question 1 parts a-d
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Can you please help me create a citation fot this link using apa 7th edition
https://www.stats.gov.kn/wp-content/uploads/2017/11/The-COVID-Impact-Tourism-2019-20-April.pdf
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Required:
Record the payment that Mookie The Beagle Concierge receives from Sandy Copper in payment for services provided Remy.
1. Create Receive Payment.
a. From the Navigation Bar, select Projects > Sandy Copper: Remy
b. From the Add to project menu, select Receive payment
c. Select Payment Date: 01/23/2023
d. Select Payment Method: Check
e. Select Deposit to: 1600 Undeposited Funds
f. Select Invoice Number 1002
g. After selecting the Invoice, what is the Amount Received displayed?
Note: Answer this question in the table shown below. Round your answer 2 decimal places.
h. Select Save and close
Amount received
$
2. View the Transaction Journal for Receive Payment.
a. From the Navigation Bar, select Sales > All Sales tab
b. From the Sales Transactions List, select the Sandy Copper: Remy payment just entered
c. From the bottom of Receive Payment, select More > Transaction Journal
d. What are the Account and Amount Debited?
Debit
Credit
20.00
Note: Answer this question in the table shown…
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Auditing || fall20
Dashboard
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ACCT4141_iram_fall20
WEEK 7: 25 OCTOBER - 31 OCTOBER
Case study 2
Separate groups: 5
My Submissions
Case 2
Title Start Date Due Date Post Date Marks Available
Case study 2 - Case 2 27 Oct 2020 - 08:00 28 Oct 2020 - 06:00 28 Oct 2020 - 19:00 100
Summary:
On Chapters 9, 10, and 11:
The YuRaeKa charity was established in 1960. The charity’s aim is to provide support to children from disadvantaged backgrounds who wish to take part in sports such as tennis, badminton, squash, basketball and football.
YuRaeKa has a detailed constitution[1] which explains how the charity’s income can be spent. The constitution also notes that administration expenditure cannot exceed 10% of income in any year.
The charity’s income is derived wholly from voluntary donations. Sources of donations include:
(i) Cash collected by volunteers asking the public for donations in shopping areas,
(ii) Cheques sent to the charity’s head office,
(iii) Donations…
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CengageNOWv2| Online teachin X
+
2.cengagenow.com/ilmn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignments... A
Determine the following measures for 2018.
Round ratio values to one decimal place and dollar amounts to the nearest cent. For number of days' sales in receivables and number of
days' sales in inventory, round intermediate calculations to the nearest whole dollar and final amounts to one decimal place. Assume
there are 365 days in the year.
1. Working capital
Г
2,790,000
2.
Current ratio
4.1
3. Quick ratio
2.5
4.
Accounts receivable turnover
16
5. Days' sales in receivables
22.8
days
6.
Inventory turnover
7. Days sales in inventory
8. Debt ratio
days
%
9. Ratio of liabilities to stockholders' equity
10.
Ratio of fixed assets to long-term liabilities
11. Times interest earned
times
times
12.
Times preferred dividends earned
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144
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pri se…
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O https://sfdr.owschools.com/owsoo/studentAssignment/index?eh=65534403
Assignment - 1. Credit Scores and Loans
SECTION 2 OF 4
QU
ASSIGNMENTS
COURSES
Attempt 1 of 1
1
4
y 5
6.
8
Identify benefits of a good credit score. Select all that apply.
O better job opportunities
O lower car insurance rates
O inability to rent an apartment
O higher interest rates on a car loan
O ability to obtain a cell phone service plan
NEXT QUESTION
READ NEXT SECTION
O ASK FOR HELP
TURN IT
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Fact Finding of requirements on Financial advisory service registration in AustraliaAssuming after graduation you would like to work as a financial adviser. Go to the website ofAustralian Securities and Investment Commission, do a fact finding and present an analysisof financial advisor registration to identify whether you are qualified and what steps shouldbe taken to be a financial adviser in Australia. The following questions should be addressed:(1) What is the ASIC’s Financial advisers register?(2) Who should be on the Register, who are not on the Register and who updates theregister?(3) What information should be on the Register?(4) What are the relevant financial products for a financial advisor?(5) What are the professional standards applied for a financial advisor.
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Camden County College
camdenccinstructure.com/courses/3788/assignments/35967?module_item id=88693|
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Question 15
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Concord Industries has equivalent units of 7100 for materials and for conversion costs. Total manufacturing costs are $124370. Total
materials costs are $91000. How much is the conversion cost per unit?
O $17.52.
O $4.70.
$12.82.
O $30.33
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Debit Cash
Credit Other Financing Sources
What does this journal entry mean?
Debit Expenditure
Credit Voucher Payable
What does this journal entry mean?
Debit Cash
Credit Deferred Inflow of Resources
What does this journal entry mean?
Debit Cash
Credit Tax Anticipating Note
What does this journal entry mean?
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Pls help ASAP
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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
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Question 3 of 14:
Select an answer:
The US GAAP provides rules and guidance
for what two primary financial reporting
purposes?
Return to course
recognition and measurement
risk assessment and presentation
recognition and presentation
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Students Home
M Federal Financial Aid Program X
Students Home
Ch. 7 Hmwk: Invoices, Trade &X
A Ch. 7 Hmwk Invoices, Trade & X
A webassign.net/web/Student/Assignment-Responses/last?dep3D27277752
Apps M Gmail
DYouTube Maps
...
...
EReading list
7. [-/1 Points]
DETAILS
BRECMBC9 7.I1.010.
MY NOTES
ASK YOUR TEACHER
PRACTICE ANOTHER
Calculate the net price factor (as a %) and net price (in $) by using the complement method. Round your answer to the nearest cent.
List Price
Trade Discount Rate
Net Price Factor
Net Price
$3,499.00
35%
$4
Need Help?
Read It
8. [-/1 Points]
DETAILS
BRECMBC9 7.J1.014.
MY NOTES
ASK YOUR TEACHER
PRACTICE ANOTHER
Calculate the trade discount (in $) and trade discount rate (as a %). Round your answer to the nearest tenth of a percent.
List Price
Trade Discount Rate
Trade Discount
Net Price
$4,500.00
$3,515.00
Need Help?
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Exploring Annuities with Microsoft Excel
I. Objectives:
To organize data and perform calculations using Microsoft Excel
To find future values for an annuity
To determine payment amounts for an annuity given a set goal
To analyze the effect of time
To research reasonable annuity rates and investment amounts for use in the above calculations
II. Procedure:
Sheet 1 - Future Value
1. Open a new Microsoft Excel (or Google Sheets) blank spreadsheet.
2. At the bottom of the page, it will show "Sheet 1". You can rename it "Future Value".
a. Right click the "Sheet 1" tab and you will see an option to rename it.
3. Type "Payment Amount (P)" in cell A1.
4. Type "Rate (i)" in cell B1.
5. Type "Number of Payments per year (n)" in cell C1.
6. Type "Years (t)" in cell D1.
Now the research..
You need to investigate reasonable annuity rates for our current market. You can choose a rate of your own
using the information you find. Also, I want you to find out what investors suggest your payment amount…
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paads ssaan
neready.frameworkhomeownership.org/Student/MyCourse.aspx?id%3Dfbd93f8d-8ac9-466a-ac3f-28d560154a88
4. Finding the Right Home
DFinding the Right Home
indi
Caps Lock is on
Question 4 of 8
When you have an exclusive contract with a real estate agent, you can
Select the best answer.
still work with other agents, as long as you disclose that you're doing it
O work with only the seller's broker for 30 days
Owork with only buyer's brokers
Be
Ho
O work with only that agent
3 TOPICS
o search
77'E R
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- Need help with answering the questiins. Thank youarrow_forwardS FULL HANDBOOK 2020-X C Clever | Portal e Using a Credit Card: Tutorial O Simple interest calculator|| C合 a f1.app.edmentum.com/courseware-delivery/ua/12298/100001317/aHR0cHM6Ly9mMS5hcHAUZWRIZW50dwouY2 Student Links O Logos.xlsx A Review Questions A.. Stock market today. Using a Credit Card: Tutorial Activity Event Credit Payment Interest Principal Balance $500.00 $0.00 $0.00 $500.00 Payment 1 $100.00 $7.40 $92.60 $407.40 Payment 2 $100.00 $6.23 $93.77 $313.63 Payment 3 $100.00 $4.79 $95.21 $218.42 Payment 4 $100.00 $3.02 $96.98 $121.44 Payment 5 $100.00 $1.86 $98.14 $23.30 Payment 6 $23.64 $0.34 $23.30 $0.00 Grand Total $500 $523.64 $23.64 $500.00 $0.00 Study this payment schedule and answer the following questions. Part A How long will it take to pay off this credit card? B IU 三E E 三 三 X, Font Sizes A - DELLarrow_forwardAssessment Builder UI App X iley.com/was/ui/v2/assessment-player/index.html?launchld%3D562228aa-1a3a-4c39-9085-b90c7defbe14#/question/1 NWP Assessment Player UI Appli X Chapter 3 Question 2 of 5 The ledger of Blossom, Inc. on March 31, 2022, includes the following selected accounts before adju Debit Credit Prepaid Insurance $2,000 Supplies 2,000 Equipment 29,000 Unearned Service Revenue $8,500 An analysis of the accounts shows the following. 1. Insurance expires at the rate of $400 per month. 2. Supplies on hand total $1,400. 3. The equipment depreciates $300 per month. 4. During March, services were performed for two-fifths of the unearned service revenue. Prepare the adjusting entries for the month of March. (List all debit entries before credit entries. Credit account titles are autn Credu indented when the amount is entered. Do not indent manually.) Debit Date Account Titles and Explanation No. rcharrow_forward
- Question 1 parts a-darrow_forwardCan you please help me create a citation fot this link using apa 7th edition https://www.stats.gov.kn/wp-content/uploads/2017/11/The-COVID-Impact-Tourism-2019-20-April.pdfarrow_forwardRequired: Record the payment that Mookie The Beagle Concierge receives from Sandy Copper in payment for services provided Remy. 1. Create Receive Payment. a. From the Navigation Bar, select Projects > Sandy Copper: Remy b. From the Add to project menu, select Receive payment c. Select Payment Date: 01/23/2023 d. Select Payment Method: Check e. Select Deposit to: 1600 Undeposited Funds f. Select Invoice Number 1002 g. After selecting the Invoice, what is the Amount Received displayed? Note: Answer this question in the table shown below. Round your answer 2 decimal places. h. Select Save and close Amount received $ 2. View the Transaction Journal for Receive Payment. a. From the Navigation Bar, select Sales > All Sales tab b. From the Sales Transactions List, select the Sandy Copper: Remy payment just entered c. From the bottom of Receive Payment, select More > Transaction Journal d. What are the Account and Amount Debited? Debit Credit 20.00 Note: Answer this question in the table shown…arrow_forward
- Auditing || fall20 Dashboard My courses ACCT4141_iram_fall20 WEEK 7: 25 OCTOBER - 31 OCTOBER Case study 2 Separate groups: 5 My Submissions Case 2 Title Start Date Due Date Post Date Marks Available Case study 2 - Case 2 27 Oct 2020 - 08:00 28 Oct 2020 - 06:00 28 Oct 2020 - 19:00 100 Summary: On Chapters 9, 10, and 11: The YuRaeKa charity was established in 1960. The charity’s aim is to provide support to children from disadvantaged backgrounds who wish to take part in sports such as tennis, badminton, squash, basketball and football. YuRaeKa has a detailed constitution[1] which explains how the charity’s income can be spent. The constitution also notes that administration expenditure cannot exceed 10% of income in any year. The charity’s income is derived wholly from voluntary donations. Sources of donations include: (i) Cash collected by volunteers asking the public for donations in shopping areas, (ii) Cheques sent to the charity’s head office, (iii) Donations…arrow_forwardClass Collaborate-AC-163-44 P x CengageNOWv2| Online teachin X + 2.cengagenow.com/ilmn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignments... A Determine the following measures for 2018. Round ratio values to one decimal place and dollar amounts to the nearest cent. For number of days' sales in receivables and number of days' sales in inventory, round intermediate calculations to the nearest whole dollar and final amounts to one decimal place. Assume there are 365 days in the year. 1. Working capital Г 2,790,000 2. Current ratio 4.1 3. Quick ratio 2.5 4. Accounts receivable turnover 16 5. Days' sales in receivables 22.8 days 6. Inventory turnover 7. Days sales in inventory 8. Debt ratio days % 9. Ratio of liabilities to stockholders' equity 10. Ratio of fixed assets to long-term liabilities 11. Times interest earned times times 12. Times preferred dividends earned Check My Work 8 144 0 P Previous Email Instructor Save and Exr Submit Assignment for Grading pri se…arrow_forwardO https://sfdr.owschools.com/owsoo/studentAssignment/index?eh=65534403 Assignment - 1. Credit Scores and Loans SECTION 2 OF 4 QU ASSIGNMENTS COURSES Attempt 1 of 1 1 4 y 5 6. 8 Identify benefits of a good credit score. Select all that apply. O better job opportunities O lower car insurance rates O inability to rent an apartment O higher interest rates on a car loan O ability to obtain a cell phone service plan NEXT QUESTION READ NEXT SECTION O ASK FOR HELP TURN IT Type here to searcharrow_forward
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