State the violations of the Equal Credit Opportunity Act
What will be an ideal response?
ECOA violations, besides requiring a spouse to cosign, include: a) asking for information about an applicant's spouse or former spouse when not relevant; b) taking race, sex, or national origin into account when making a credit decision; c) requiring certain types of life insurance before issuing a loan; d) basing a credit decision on the area in which the applicant lives; and e) asking about an applicant's intent to have children.
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What is the purpose of offering free merchandise or other considerations when a firm has bad news regarding transaction?
A) To salvage as much of the original order as possible B) To encourage a new order to replace the current transaction C) To rebuild the customer's confidence in your company D) To encourage the placement of an even larger order E) To bundle the shipment with the previous transaction for an even greater cost savings
______ testimony is provided by sources recognized as authorities on your topic.
a. Professional b. Expert c. Specialty d. Official
Cash received by borrowing from line of credit will be shown:
A) on the summary cash budget. B) in the investing activity section of the cash summary budget. C) on the cash disbursements budget. D) on the operating activity section of the cash summary budget.
Suppose that the allowance factor for a job is 0.10, and the normal time is 5 hours. What is the standard time?
A) 5.6 hours B) 50.0 hours C) 4.9 hours D) 5.1 hours E) 4.5 hours