Dahlia borrows $125,000 from Clearview Credit Union to buy a home. The interest rate and other terms that are required to be disclosed under federal law must be
A. based on uniform formulas of calculation.
B. expressed in lenders' language.
C. set out in a formula unique to each loan.
D. stated in "legalese."
Answer: A
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A cost-benefit analysis is performed after collecting secondary data
Indicate whether the statement is true or false
An adjusting entry made to record salaries earned but not yet paid or recorded is made with which of the following entries?
A) Salaries Expense - Debit; Cash - Credit B) Salaries Payable - Debit; Salaries Expense - Credit C) Salaries Expense - Debit; Salaries Payable - Credit D) Cash - Debit; Salaries Expense - Credit
When creating assembly instructions for a piece of equipment, what type of graphic allows you to show how the components fit together?
A. photograph B. pictograph C. exploded view diagram D. critical path
Reversing entries:
A. Are required by GAAP. B. Are prepared on the worksheet. C. Are optional. D. Are mandatory. E. Correct errors in journal entries.