The meaning of consumer credit. Introduction: Consumer credit refers to the arrangement of consuming goods and service without making any payment for them at the time of purchasing but sometime in the near future. It may include a component of interest if the payment has not been made till some specific time period.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 6, Problem 6.1PQ1

Summary Introduction

To explain:

The meaning of consumer credit.

Introduction:

Consumer credit refers to the arrangement of consuming goods and service without making any payment for them at the time of purchasing but sometime in the near future. It may include a component of interest if the payment has not been made till some specific time period.

Expert Solution & Answer

Explanation of Solution

Consumer credit is the arrangement of goods and services to consume them before paying for them and the payment for those goods and services will be made later.

As the name suggests, it is applicable to only those goods and services that are for end use or for consumption and not for the industrial goods or services.
The consumer credit is the amount of credit taken for all consumer goods and services except home mortgages.

Conclusion

Thus, consumer credit is the credit taken for the consumables items that includes services as well and may include the component of interest.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Could you help explain “How an exploratory case study could be goodness of work that is pleasing to the Lord?”

What are the case study types and could you help explain and make an applicable example.What are the 4 primary case study designs/structures (formats)?

The Fortune Company is considering a new investment. Financial projections for the investment are tabulated below. The corporate tax rate is 24 percent. Assume all sales revenue is received in cash, all operating costs and income taxes are paid in cash, and all cash flows occur at the end of the year. All net working capital is recovered at the end of the project. Year 0 Year 1 Year 2 Year 3 Year 4 Investment $ 28,000 Sales revenue $ 14,500 $ 15,000 $ 15,500 $ 12,500 Operating costs 3,100 3,200 3,300 2,500 Depreciation 7,000 7,000 7,000 7,000 Net working capital spending 340 390 440 340 ?

Answer 2

Question

Chapter 6, Problem 6.1PQ1

Summary Introduction

To explain:

The meaning of consumer credit.

Introduction:

Consumer credit refers to the arrangement of consuming goods and service without making any payment for them at the time of purchasing but sometime in the near future. It may include a component of interest if the payment has not been made till some specific time period.

Expert Solution & Answer

Explanation of Solution

Consumer credit is the arrangement of goods and services to consume them before paying for them and the payment for those goods and services will be made later.

As the name suggests, it is applicable to only those goods and services that are for end use or for consumption and not for the industrial goods or services.
The consumer credit is the amount of credit taken for all consumer goods and services except home mortgages.

Conclusion

Thus, consumer credit is the credit taken for the consumables items that includes services as well and may include the component of interest.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 6, Problem 6.1PQ1

Summary Introduction

To explain:

The meaning of consumer credit.

Introduction:

Consumer credit refers to the arrangement of consuming goods and service without making any payment for them at the time of purchasing but sometime in the near future. It may include a component of interest if the payment has not been made till some specific time period.

Expert Solution & Answer

Explanation of Solution

Consumer credit is the arrangement of goods and services to consume them before paying for them and the payment for those goods and services will be made later.

As the name suggests, it is applicable to only those goods and services that are for end use or for consumption and not for the industrial goods or services.
The consumer credit is the amount of credit taken for all consumer goods and services except home mortgages.

Conclusion

Thus, consumer credit is the credit taken for the consumables items that includes services as well and may include the component of interest.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 6, Problem 6.1PQ1

Summary Introduction

To explain:

The meaning of consumer credit.

Introduction:

Consumer credit refers to the arrangement of consuming goods and service without making any payment for them at the time of purchasing but sometime in the near future. It may include a component of interest if the payment has not been made till some specific time period.

Expert Solution & Answer

Explanation of Solution

Consumer credit is the arrangement of goods and services to consume them before paying for them and the payment for those goods and services will be made later.

As the name suggests, it is applicable to only those goods and services that are for end use or for consumption and not for the industrial goods or services.
The consumer credit is the amount of credit taken for all consumer goods and services except home mortgages.

Conclusion

Thus, consumer credit is the credit taken for the consumables items that includes services as well and may include the component of interest.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 6, Problem 6.1PQ1

Summary Introduction

To explain:

The meaning of consumer credit.

Introduction:

Consumer credit refers to the arrangement of consuming goods and service without making any payment for them at the time of purchasing but sometime in the near future. It may include a component of interest if the payment has not been made till some specific time period.

Expert Solution & Answer

Explanation of Solution

Consumer credit is the arrangement of goods and services to consume them before paying for them and the payment for those goods and services will be made later.

As the name suggests, it is applicable to only those goods and services that are for end use or for consumption and not for the industrial goods or services.
The consumer credit is the amount of credit taken for all consumer goods and services except home mortgages.

Conclusion

Thus, consumer credit is the credit taken for the consumables items that includes services as well and may include the component of interest.

Answer 6

Chapter 6, Problem 6.1PQ1

Summary Introduction

To explain:

The meaning of consumer credit.

Introduction:

Consumer credit refers to the arrangement of consuming goods and service without making any payment for them at the time of purchasing but sometime in the near future. It may include a component of interest if the payment has not been made till some specific time period.

Expert Solution & Answer

Explanation of Solution

Consumer credit is the arrangement of goods and services to consume them before paying for them and the payment for those goods and services will be made later.

As the name suggests, it is applicable to only those goods and services that are for end use or for consumption and not for the industrial goods or services.
The consumer credit is the amount of credit taken for all consumer goods and services except home mortgages.

Conclusion

Thus, consumer credit is the credit taken for the consumables items that includes services as well and may include the component of interest.

Answer 7

Chapter 6, Problem 6.1PQ1

Summary Introduction

To explain:

The meaning of consumer credit.

Introduction:

Consumer credit refers to the arrangement of consuming goods and service without making any payment for them at the time of purchasing but sometime in the near future. It may include a component of interest if the payment has not been made till some specific time period.

Answer 8

Expert Solution & Answer

Explanation of Solution

Consumer credit is the arrangement of goods and services to consume them before paying for them and the payment for those goods and services will be made later.

As the name suggests, it is applicable to only those goods and services that are for end use or for consumption and not for the industrial goods or services.
The consumer credit is the amount of credit taken for all consumer goods and services except home mortgages.