Wheels & Deals Corporation is subject to the Truth-in-Lending Act, which is a key statute regulating the credit and credit-card industries and concerns
A. the credit-worthiness of financial institutions.
B. the disclosure of credit terms.
C. the limits on types of credit.
D. the limits on types of debt.
Answer: B
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Selling personal computers to both retail stores and other businesses is an example of:
A) multi-outlet marketing B) merchant distribution C) quantity enhancement marketing D) dual-channel marketing
The partnership's net income for the first year is $50,000. Nancy's capital balance is $83,000 and Betty's capital balance is $11,000 at the end of the year. Calculate the share of profit/loss to be allocated to Betty.
Nancy and Betty enter into a partnership agreement where they decide to share profits according to the following rules: (a) Nancy and Betty will receive salaries of $1700 and $14,500 respectively as the first allocation. (b) The next allocation is based on 20% of each partner's capital balances. (c) Any remaining profit or loss is to be allocated completely to Betty. A) $18,300 B) $31,700 C) $3760 D) $16,100
Counterarguments to the 'backing off the fast track' phenomenon includes all of the following, except:
A) Long working hours of management and professional persons B) More is expected in terms of productivity and quality C) Canadians are working harder than ever D) Feeling alienation E) Work is an obsession
Melinda and Riley are married taxpayers. During the year, they completed a single capital asset sale in which a loss of $120,000 is realized on the sale ($15,000 amount realized, less $135,000 adjusted basis) of qualified small business stock. How much of the loss can the taxpayers deduct?
a. $3,000 b. $53,000 c. $100,000 d. $103,000 e. $120,000