Writing the lending process to provide loan for customer.

Q: ypes of credit extension? Which one is biggest?Writing the lending process to provide loan for…

A: Credit extension means the loans granted.

Q: List and explain the differences between a self managed credit plan and a contracted credit plan.

A: A credit is a type of loan taken by individuals or corporations in which the borrowers borrow an…

Q: ate one (1) problem situation concerning a loan amortization problem. Make a brief description of…

A: We need to create a loan amortization table for any practical situation.

Q: Which of the following statements is correct about credit period? A. If a customer purchases goods…

A: Credit sales means when goods of the business are sold on account to customers and customers has not…

Q: 18. Prepare the initial entries to record the given loan. 19. What are the accounts involved in the…

A: Unearned revenue: It is the amount  received from a client  for a service or product which is  yet…

Q: referred as the borrowed money from a bank or other lending institutions/persons that can be used…

A:

Q: based on the statement List down true or false and explain 1. Major part of lending process…

A: based on the statement mentioned above we need to evaluate if they are correct or not.

Q: 44. Which statement correctly identifies the loan type with its function? O (a) FHA guarantees loans…

A: A loan is defined as the financial term, where the funds or money is given to some other party in…

Q: 3. Which ofthe foll owing is an expense? A. Interest paid on loan B. Withdrawal of cash made by the…

A: All the given options are discussed hereunder: 1) Interest paid on loan: This is the interest…

Q: What is the GL entry when a company receives a payment from a customer? Debit revenue, credit…

A: General ledger entry for receiving a payment from a customer means entry for amount received from…

Q: Which of the following documents is issued by a customer to provide information about the  nature of…

A: Every transaction that takes place in a business should be recorded appropriately in the books of…

Q: 6. Open account credit provides a debtor with a predetermined line of credit and a flexible payback…

A: Open account credit is a kind of system in which the payment will be made later. It is risker when…

Q: The customers of the company would like to know its credit worthiness and the terms of payment. O…

A: Accounting concept states the basic principles, assumptions as well as rules that work on the…

Q: 1. Enumerate and explain the rules of debit and credit.

A: The entire subject or concept of accounting is based on the general rules of debit and credit. In…

Q: what is the entry for purchase of supplies on account? * O debit supplies, credit cash O debit…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: When a customer eventually pays for items that have been purchased on credit, the transaction will…

A: Here, Customer is our Debtor.  Company usually sales its goods on credit and that customer who…

Q: Definition of granting credit and give examples and illustrations

A: Credit - Credit refers to a term in which a sum of money is received by a borrower and is repaid to…

Q: Where i can used credit union

A: Whenever a group of people collect deposits and use those deposits to give loans, it is known as…

Q: Debit the receiver, credit the giver is rule for [A] personal account [B] tangible real account [C]…

A: Journal entries are the transactions that are recorded in the primary book. They are chronological…

Q: Which of the following accounts is an liability? a. Bank deposit b. Prepaid insurance expense c.…

A: Current liabilities: Liabilities which have to be paid  within one year from the date of the balance…

Q: Discuss the 8 factors that a lender should consider when deciding whether to grant or not grant a…

A: Any business want to put your best foot forward when applying for a loan but this can be difficult…

Q: Explain the lending methodology

A: Loaning (otherwise called "financing") happens when somebody permits someone else to get something.…

Q: Which term is associated with “right” or “right-side”? Debit. Credit.

A: In the T accout format The right side in accounting always represents the credit side of the…

Q: A "receipt on account" results in a credit to: An A/P account Bank An A/R account Capital

A: Receipt on account means, cash received from previously made credit sales.

Q: Define savings and loan association (S&L

A: Savings & Loan Association (S&L) is basically an organization intended for the purpose of…

Q: Define the following using your own words and give examples Account T-account To debit

A: As per the guidelines, only three subparts are allowed to be solved. Please resubmit the remaining…

Q: What section of FASB provide guidance on referral credit paid to customers?

A: FASB stands for "Financial Accounting Standards Board , which was established in the year 1973.It is…

Q: Does Loan Meet Written Loan Policy and How Would Loan Be Affected By Changing Laws and Regulations…

A: Lenders utilise the five C's of credit to assess the creditworthiness of potential borrowers. The…

Q: 17-Which of the following journal entry is correct for payment of loan instalment?

A: Journal entry for payment of loan installment    Loan is in nature of liability, And Payment of such…

Q: Part III Discuss concisely each scenario in not less than 5 sentences. 41-45 Simple interest is a…

A: The benefits of being a borrower or a creditor are subject to the needs of the business and the…

Q: Credit selection involves the application of techniques to determine which customers should receive…

A: Credit selection refers to the decision to whether the company should extend the period or the…

Q: Explain whati mportant information we can get from each sources of credit information to be able to…

A: The answer is given below:

Q: 9. Documents of credit appraisal for invididual loan?

A: Credit appraisal is the process of assessing the credit worthiness of the loan applicant.

Q: Which of the following is not use to assess whether credit should be extended to a household? a.…

A: When credit is extended to a household, certain criteria need to be fulfilled before loan can be…

Q: t step in lending process

A: Bank lending policy refers to the policy and guidelines developed by a bank to make the lending…

Q: The purchase of good on credit require: O A. Amount of payment O B. Timing of payment O C. Credit…

A: Purchase of goods means when goods are bought or purchased from some other party. These goods can be…

Q: When do you considered a loan, receivables are impaired?

A: Impairment refers to diminution in realizable value of the asset. It may be due to various factors…

Q: Identify the following users as either external users (E) or internal users (I). Lenders

A: Accounting users: Accounting users are the persons, who use accounting information for investment…

Q: Banking relates Banks provides The Banks heln

A: Explanation : The fact that banks are the backbone of every economy and provide high level of…

Q: Current account benefits for the account holder and borrowers

A: A bank is a financial institution that provides a mechanism for smooth flow, movement, and transfer…

Q: Discuss the different types of banks deposits in respect to features, interest, cost, withdrawals,…

A: The question is based on the concept of different accounts offered by a bank. Bank accepts deposits…

Q: discuss the process of applying for a business loan.

A: A business loan is a loan that is intended primarily for business purposes. It includes the…

Q: 18. Which of the following would be found on a consumer's credit report? A. a savings account…

A: In the given question we are given 4 options regarding credit report and we need to choose the best…

Q: Documents of credit appraisal for individual loan.

A: Credit appraisal basically refers to assessing a particular loan application or proposal in a…

Q: WHAT IS THE LOAN FACILITY THAT WILL BE USED TO COVER THE DEPOSIT AND CLOSING COST

A: Credit facility Meaning: Credit facility is type of loan that is made business and corporate…

Q: Which of the following accounts would be increased with a credit?   a Supplies Expense b Supplies c…

A: ACCOUNT get credit whenever there is either the balance is equity and liability or the revenue.…

Q: w do account holders

A: Home loans : A house loan is a sum of money borrowed from a bank or money lending firm at a fixed…