Banks vs agencies Study guides, Class notes & Summaries

Solutions| A+ Liquidity - The ability to convert an asset to cash quickly Products that are liquid - Stocks and Money Market accounts Gift Cards - a card that is given as a gift with a specified amount of money. There is a monthly inactivity fee that may begin after 12 months. Discretionary income - The amount of an individuals income that is left for spending investing or saving after taxes and personal necessities. Money orders - a certificate that allows the stated...

UGBA 135 Final Exam Questions With Correct Answers 2023 (Gradec 100%) Most important aspect of a credit score is paying on time all the time 12. Names of 3 main credit agencies: Experian, Equifax, TransUnion 13. Variable vs. go-to rate of interest a. Variable: interest rate that moves up and down based upon a benchmark not controlled by the lender b. Go-to: interest rate charged on unpaid credit card balances in addition to the variable rate, determines total interest rate 14. What is a ...

sources of income wages gifts government benefits capital gains exemption a deduction allowed by law to reduce the amount of income that would otherwise be taxed liquidity the ease in which an asset can be bought or sold ex. cash, stocks/bonds, checks, gold/precious metals, checking and savings acounts gift cards a card with a specified amount of credit on it redeemable at a specific store discretionary income/budget surplus the amount of income left for spen...

Origination - ANSWERThe process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower Credit reports will be ordered, in most cases from all three major national credit reporting agencies: - ANSWERExperian, Equifax, and TransUnion Not all creditors will report to all three, they will - ANSWEREach reporting agency will report a different credit score for the borrower Underwriting - ANSWERThe detailed process of evaluating a borrower's l...

Liquidity The ability to convert an asset to cash quickly Products that are liquid Stocks and Money Market accounts Gift Cards a card that is given as a gift with a specified amount of money. There is a monthly inactivity fee that may begin after 12 months. Discretionary income The amount of an individuals income that is left for spending investing or saving after taxes and personal necessities. Money orders a certificate that allows the stated payee to receive c...

Liquidity The ability to convert an asset to cash quickly Products that are liquid Stocks and Money Market accounts Gift Cards a card that is given as a gift with a specified amount of money. There is a monthly inactivity fee that may begin after 12 months. Discretionary income The amount of an individuals income that is left for spending investing or saving after taxes and personal necessities. Money orders a certificate that allows the stated payee to receive c...

Sources of Income Wages, rentals, interest, capital, profit, investments, entrepreneurship Exemption (allowance) and how it works Allowance is used to reduce amount of taxed income Liquidity The degree of ease in which the assets can be sold Gift cards and how they work (a monthly inactivity fee may begin after 12 months) closed loop system and open loop system Discretionary income or budget surplus Not allocated for food or shelter Money orders (high rate...

Proprietorship correct answer: Single Owner; unlimited liability & no taxation Partnership correct answer: More than one owner; unlimited liability & no taxation Corporation correct answer: A business owned by stockholders (shareholders -> board of directors --> top managers); limited liability & taxation Publicly traded or privately held Assumptions of Financial Accounting correct answer: Separate entity, unit of measurement, going concern, periodicity, materiality Goin...

WISE Review Latest Update Graded A+ sources of income wages gifts government benefits capital gains exemption a deduction allowed by law to reduce the amount of income that would otherwise be taxed liquidity the ease in which an asset can be bought or sold ex. cash, stocks/bonds, checks, gold/precious metals, checking and savings acounts gift cards a card with a specified amount of credit on it redeemable at a specific store discretionary income/budget surplus the amount of income left for s...

AP GOV McCulloch vs. Maryland case (1819) Verified Answers _____ states taxed bank operations within their jurisdictions ️6 2 questions on the green paper about the case ️does the con permit congress to charter a bank? Does a state have the power to tax a corporation established by the federal gov? conclusion of case led Marshall to state the doctrine of __________ ______ which are powers necessary to carry out specified granted powers ️implied powers CONGRESS HAD THE POWER TO INC...