BUSINESS HIGH SCHOOL

List and explain the six main types of loans.

Answers

Answer 1
Answer:

Answer: Loans are classified into secured and unsecured ones.

The most common types of loans

1. Personal Loans - Issues by Financial institutions to any individuals for their personal uses.

2. Auto Loans- When you buy a vehicle, an auto loan lets you borrow the price of the vehicle minus any down payment.

3. Student Loans - It can help to pay for college and graduate school.

4. Mortgage Loans - A loan that covers the cost of a home's purchase less any down payment. If mortgage payments are not made, the lender may foreclose on the property, which serves as collateral. Mortgage payments typically take 10, 15, 20, or 30 years to complete. Government organizations do not insure conventional mortgages.

5. Payday Loans - Payday loans are one kind of loan to stay away from. These payday loans are usually subject to fees with annual percentage rates (APRs) of 400% or higher, and they must be fully repaid by your next paycheck.

6. Home Equity Loans - It lets you take out a loan for any purpose, up to a certain percentage of the equity in your home. Loans with installments are home equity loans. You get a lump sum and repay it over time (typically five to thirty years) in consistent monthly installments.

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A furniture factory's employees work overtime to finish an order that is sold on December 31. The office sends a statement to the customer in early January and payment is received by mid-February. The overtime wages should be expensed in:a) Januaryb) Februaryc) The period when the worker receives their checksd) Either Jan or Feb depending on when the pay period end

The plans that establish the long-range objectives and overall strategy of the firm and cover time periods of one year or longer are called?A)tactical

B)operational

C)mission

D)strategic

Answers

The plans that establish the long-range objectives and overall strategy of the firm and cover time periods of one year or longer are called:

D) Strategic

When you purchase an item in a store, you may be charged __________.

Answers

When buying any item in most stores, you are charged sales tax. Retailers, even smaller businesses are charged taxes for running their business. Businesses are able to pass on part of the burden to their paying customers in way of sales tax. So when you see an item marked as 99 cents, you will be paying slightly more than a dollar in almost all cases.

According to the question, you may be charged sales tax when you purchase an item in a store.

A sales tax refers to the tax that is imposed on goods and services. This tax is a consumption tax that is imposed by the government.

Further Explanation

The retailer collects the sales tax on behalf of the government and which is later remitted to the purse of the government. The retailer remits the sales tax either monthly or quarterly. Any businesses that operate in any environment where the sale tax law exists are liable to pay sales tax.

The end-users of the product or services offered by a company are charged for a sales tax. The sales tax rate is different among states in the US, it ranges from 1.7% to 9.45%. There are also some states with local sales tax laws.

There are 5 States in the US that do not charge sale tax on purchases. These states includes:

  • Oregon
  • Delaware
  • New Hampshire
  • Montana

However, in some of the five states, the local municipalities are allowed to charge sales tax. Also for the company to collect tax from consumers they have to apply for a sales tax permit. While some states require a fee to get the permit, some state grants the permit at no charge.

LEARN MORE:

KEYWORDS:

  • sales tax
  • local municipalities
  • US
  • consumption tax
  • product
  • services

What happens when you do not make a decision?

Answers

Making decisions are always an important part. But failure in making decision may cause something unexpected. in most of the time a right decision at right time helps a lot... so for making a good decision one should follow some steps- like what are the good aspect if someone take this decision and what are the negative impact of this decision and if the probability of positiveness is more... than one should take that decision.. and if someone have confusion between what to do? and have to decide which decision to take among many ideas in mind  one should do the same steps but this time he/she should write them in a page for each decision a single page and than take the one which is prominent..

When you don’t make a decision, you are making the choice to take no action. As a result, you must accept whatever happens or whatever others choose for you. You are also giving up control over your own life.

A sales tax is a type ofprogressive tax
indirect tax
proportional tax
direct tax

Answers

Indirect.

This is because indirect tax is a tax on expenditure, whereas direct tax is a tax on income and wealth. Progressive taxes tax the rich more than the poor, but a sales tax charges everyone the same, therefore it is a regressive tax instead, as it takes up more of the poor's income. As it is not a choice, the answer is then an indirect tax.

Answer:

It is a type of indirect tax

Explanation:

In 2014 neither firm raised rates during the holiday season because they were A. at the equilibrium of an infinitely repeated game. B. colluding to maximize profits. C. cooperating to increase their joint profits. D. competing in a​ prisoner's dilemma.

Answers

Answer:

The correct answer is  D. competing in a​ prisoner's dilemma.

Explanation:

The prisoner's dilemma is a fundamental problem in game theory that shows that two people may not cooperate even if it goes against the interest of both.

In the iterated prisoner's dilemma, cooperation can be obtained as a result of balance. Here it is played repeatedly, so when the game is repeated, each player is offered the opportunity to punish the other player for non-cooperation in previous games. Thus, the incentive to defraud can be overcome by the threat of punishment, which leads to a cooperative outcome.

What type of tax structure is the “fairest.” What, if any, alternative tax structure would you propose to replace the federal income tax?

Answers

'Fair' is really subjective, anyone will have their own opionion.

But i think the best way to define fair is if the tax structure give the same amount of weight throughout all economic classes

If i can replace the federal income tax structure, i would just give a straight percentage of amount to all economic classes, without anyway to cut with 'tax deductible tricks', like 20 % of annual income to all classes of economy. I
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