Answer: True
A bank line of credit is a prearranged loan amount that you can access by writing specific checks
Explanation:
A line of credit (LOC) refers to a type of loan extended to an individual, organizations or government which establishes the maximum loan amount a customer can borrow. It is a form of arrangement between a financial institution and its customer. It is an open-end credit account that enables borrowers to spend money, repay it, and spend it again. A customer or borrower can access funds from the line of credit in agreement with the maximum amount that is agreed upon because he or she must not exceed the limit. The loan on the line of credit must be paid back within a specified time and at a specified interest rate. It allow a borrower to write checks (drafts) in order to access the loan.
Answer:
a. $10,000; -$20,000
Explanation:
Accounting profit is total revenue less total cost.
Economic profit is accounting profit less implicit cost or opportunity cost.
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
Total cost = $30,000 + $80,000 + $20,000 = $130,000
Accounting profit = $140,000 - $130,000 = $10,000
If Bessie didn't start her farm, she would be working as a teacher. thus, her opportunity cost is what she would have been earning as a teacher which is $30,000.
Her economic profit = $10,000 - $30,000 = $-20,000
I hope my answer helps you
b. meddles
c. metals
d. mettles
b. franchise agreement
c. partnership contract
d. 4 plan
A Business Plan is what outlines specific information about a proposed idea, including product, location, and marketing information. It is used for starting a business, securing funding, or developing certain projects.
The document that outlines specific information about your proposed idea, including product, location, and marketing information, is termed a Business Plan. This document acts as a roadmap for your business, outlining its objectives, strategies, and financial projections. A business plan helps you to articulate your business concept, evaluate your competition, determine risks, and estimate costs. Consequently, it is an essential tool for starting a business, securing funding, or developing a specific project within an existing business.
#SPJ12