Which of the following charges would NOT be subject to any error tolerance factor in the Loan Estimate form? Select one: a. The loan origination fee b. Prepaid interest charges c. Recording fees d. A third-party fee for which the consumer is allowed to shop and where the consumer selected the provider referred by the lender

Q: The allowance for doubtful accounts is an example of a(n) Group of answer choices expense account…

A: The amount which are expected not to be collected are recorded in the Allowance for doubtful A/c.

Q: Please explain the risks the buyer of a loan participation is exposed to

A: There are many risks involved in loan and it is very risky to give loans because of default on loan…

Q: Explain how does the trade credit is offered on open account.

A: Trade credit is the easiest and most important source of short-term finance available to businesses.…

Q: The simplest way to account for an uncollectible account is to use the allowance method. False True

A: The bad debt expense can be recorded in the books using two methods:Direct write off methodAllowance…

Q: Prepaid expenses are normally created as a part of the purchasing process. Prepaid energy bills,…

A: 1. To determine the accuracy of the remaining prepaid account balance, I would examine the following…

Q: When interest is accrued on a Note Receivable, the journal entry to record the accrued interest…

A: A promissory note, also known as a note receivable, is a spoken commitment from the borrower to pay…

Q: er type of account name for gift card lia

A: Gift card liability refers to the concept that reflects that the company has the obligation to…

Q: How are sales to customers using credit cards recorded?

A: Net sales means the amount of revenue earned and cost of goods sold means the cost of goods which…

Q: Which of the following is TRUE about Credit Score / FICO Score: Group of answer choices the lower…

A: What is credit score? It is a score that ranges from 300 to 850 and it represents the credit…

Q: credit

A: Credit card can be defined as a payment card where line of credit is provided to the customers. With…

Q: Which of the following is not an insurance management tool? Group of answer choices deductibles.…

A: Insurance management: Insurance Management is the administration of all insurance requirements, both…

Q: Which of the following is not a company that can provide you with a look at your credit score? a.…

A: There are three companies given in the question which are working in the credit field: Credit Karma…

Q: Do you believe the accuracy of the prepaid accounting balance can be determined by examining, the…

A: To determine the accuracy of the prepaid accounting balance, one needs to examine various factors…

Q: What is a sale on credit and why it is needed? Give three examples?

A: Sale on Credit: A sale on credit is revenue earned by a company when it sells goods and allows the…

Q: A company that provides a service or product to a customer on credit has an __________ from that…

A: A goods or service sold on credit is treated as assets of the business as these are customer…

Q: The journal entry to be recorded by the seller upon receiving payment from a customer who had…

A: Journal Entry :— It is an act of recording transactions in books of account when transaction…

Q: Describe about the trade credit procedure.

A: Trade: Trade refers to buying or selling goods and service in exchange of money or money’s worth.

Q: Discuss, in general, what it means for the brothersto set a credit and collections policy

A: Answer: Credit and collection policy refers to the laws and regulations of the company governing the…

Q: The document a lender gives a borrower detailing the actual costs of a loan is called     a…

A: A truth in lending disclosure is an agreement where there are some important disclosure made by the…

Q: Most agreements involving factoring of accounts receivable are made on a. O a. notification O b.…

A: Factoring, often referred to as accounts receivable financing, is a financial transaction in which a…

Q: equest a

A: Manufacturing overhead rates refer to the regulated factory expenses designated for each unit of…