Owing to his impulsive buying habits,Ronnie's unpaid credit card balances pile up to $9,000. As Ronnie does not have enough money to clear his bills, he is in a deep financial crisis. In this scenario, the first step that Ronnie should take is to:
A. stop using the card so that he does not worsen the situation.
B. consistently pay a substantial amount of the balance each month toward retiring the debt on his card.
C. borrow money from banks and other lenders to make the credit card payments.
D. approach the issuer of the credit card to increase the credit limit for future transactions.
Answer: A
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The cash flow from operations to capital expenditures ratio measures a company's ability to
a. use operations to finance its acquisitions of productive assets. b. use cash flows from capital expenditure transactions to maintain working capital. c. increase its capital expenditures as a result of profitable operations. d. pay its current bills from profits made using productive assets.
[The following information applies to the questions displayed below.] Account No.Account Title(1)Cash(2)Service Revenue(3)Accounts Receivable(4)Salaries Expense(5)Dividends(6)Common Stock(7)Salaries Payable(8)Retained EarningsWhich of the following is a true statement? (Note: A statement may be true even if it does not identify all accounts that appear on that particular financial statement.)
A. Account numbers 2, 4, and 5 will appear on the income statement. B. Account numbers 1, 3, and 8 will appear on the balance sheet. C. Account numbers 4, 5, and 6 will appear on the statement of changes in stockholders' equity. D. Account numbers 2, 5, and 8 will appear on the statement of cash flows.
During a four-hour heart bypass operation, a surgical instrument was inadvertently left in the chest of the patient. A second operation, lasting less than one hour, was later performed without charge. The negligence in the first operation could be established in court by the presumption known as_________
Fill in the blank(s) with correct word
Assume that Montana Mining, Inc. borrows $5,000,000 for 120 days. The total interest paid is
$150,000. What is the APY, or Effective Annual Rate of interest that Billings pays? A) 9.00% B) 9.27% C) 9.77% D) 3.00%