What does the Truth-in-Lending Act of 1969 require lenders to do? What is the APR, and how does it fulfill the purpose of the Act?
What will be an ideal response?
Answer: Lenders are required to disclose a standardized loan rate with directly comparable interest expenses over the life of the loan. This standardized rate is the APR (annual percentage rate) which measures the finance expenses (including interest and all other expenses) on a loan annually. The APR makes it easier for individuals to compare loans offered by different lenders and select the best loan.
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Which of the following is a procedure that requests a direct written response to the auditor form a third party?
a. Inquiry b. Confirmation c. Inspection d. Observation
In responding positively to a claim, begin the message with
a. information promoting other products. b. the good news that you are complying with the customer's request. c. an explanation of the reasons the request is granted. d. a reminder of the problem.
Use the information provided in Table 8.2. The value of Bushels when Fertilizer is 60 is:
A) 2520. B) 490. C) 390. D) 518.
Tina Robinson, Inc. (TRI) ? TRI management has decided to reinvent the culture of the organization. Previously, the company tried to make jobs more appealing by adding more responsibilities to each job description. However, this did not work. Next, the company decided to add flextime. It believed that this would make employees more dedicated. ? TRI then introduced even more work options for employees. For example, management decided to group all full-time employees into teams to allow employees with different backgrounds to learn from each other. Many different kinds of teams were allowed, as long as the group members did not interact via the Internet or any other electronic means. The managers reasoned that team members must work face to face to learn from and truly engage with each
other. ? Once these teams were formed, TRI management noticed that the quality of employees' work was much improved. The managers also observed that people felt much more comfortable with and tolerant of each other. Refer to Tina Robinson, Inc. Flextime is A. a system in which management sets the work hours for employees. B. a system in which employees set their own work hours with no limits. C. a system in which employees set their own work hours within employer-determined limits. D. working fewer hours than a standard work week. E. working more hours than a standard work week.