Some credit repair companies have instant solutions to your credit problems. True O False

Q: What is the billing and collection process flow? Group of answer choices 1. If the customer is a new…

A: Billing process flow involves many steps like setting up the product code then setting up customer…

Q: What is the  range of possible credit scores. Give examples of bad, average, excellent credit…

A: Credit reporting agencies determine the score(i.e credit score) of the individual. This score is…

Q: True or False: It's possible to improve your credit score, even if you've made mistakes in the past.…

A: Credit score indicates the credit-worthiness of the borrower by assigning a number based on…

Q: Imagine you're trying to select a new credit card. Identify 4 attributes of a credit card you would…

A: A credit card refers to a short-term financial product. It provides the short-term debt funds at a…

Q: Credit memos are manually applied to customer balances Select one: a. on the Receive payment form b.…

A: A credit memo, short for credit memorandum, is a document issued by a seller to a buyer, informing…

Q: Effective credit management involves establishing credit standards for extending credit to…

A: Annual sales = $396.3 millionAccounts receivable = $47.6 million

Q: Nowadays, lenders are using credit scoring tool to analyze consumer loans. Discuss its advantageous.

A: Introduction : A credit scoring model can be understood as the risk management instrument that…

Q: Is granting credit to customers good? And as a future business owner how would you handle or manage…

A: Explanation to Credit When products are sold to customers on credit and customers agree to pay the…

Q: Is the following statement true or false? Open-end loans are often called line-of-credit accounts. O…

A: A loan provided by a financial body to a borrower that has a pre-approved credit limit and can be…

Q: Consumers should comparison shop for credit just as they would for any other consumer good or…

A: The objective of the question is to understand the relationship between a consumer's stage of the…

Q: O $90,000 O $105,000 O $82,500 O$99,000 ustomer paid off the account after 15 days, Sombra Corp.…

A: Discount is the amount to be paid less than stated amount and is given for early payment before due…

Q: What is the difference between a credit card and a debit card? O A credit card is loaned money, plus…

A: Debit card is the facility given by the banks to their customers so that they can withdraw cash from…

Q: As a helpful amenity for customers making electronic payments, certain credit card issuers provide…

A: Virtual credit cards or credit card numbers that can be used only once are increasingly becoming…

Q: After invoicing a regular customer, PaintPros realizes that it billed the customer for prep work…

A: The first step is to identify the invoice where the overbilling occurred. This is the invoice that…

Q: Pay day loans are short term loans that you take out against future paychecks: The company advances…

A: Payday loans are short-term loans that can be used to cover emergency expenses or make ends meet in…

Q: Companies like to use statistical scoring systems, such as the Z score, to assess a customer's…

A: z score is used to determine the reliability in predicting the bankruptcy one or two years before…

Q: According to Dave Ramseys seven baby steps plan. What would be the pros and cons of using a credit…

A: Dave Ramsey’s seven baby steps plans consists of plans which make an individual financially…

Q: True or false: An example of a soft inquiry would be a credit card company looking into your credit…

A:

Q: Which of the following is TRUE about Credit Score / FICO Score: Group of answer choices the lower…

A: What is credit score? It is a score that ranges from 300 to 850 and it represents the credit…

Q: True or False: You can dispute an incorrect item on your credit report. True False

A: If there is an error in your credit report one should immediately takes steps to rectify it because…

Q: Consumer loans, by this definition: Some of the most expensive Least borrower-friendly More are…

A: A loan that is given by financial institutions to consumers to fulfil their needs is known as a…

Q: Discuss all the advantages and disadvantages of availing auto loan

A: Auto loan is availed by a person when the person is buying a new car and need to get it financed due…

Q: How can I manage keep my credit score high?

A: Credit Score: A credit score may be a range between 300–850 that depicts a consumer's…

Q: How do sellers benefit from allowing their customers to use credit cards? Do sellers bear any risk…

A: Credit cards A card distributed by the bank to its customers who have good financial records is…

Q: If a company is able to estimate the rate of redemption for gift cards, they should use the ________…

A: The objective of the question is to identify the appropriate accounting method for breakage when a…

Q: Main function of Letter of Credit (L/C) is to solve credit risk relating to the importer if the…

A: The letter of credit is reflective of a letter from the importers Bank that payment will be made to…

Q: All credit cards are not alike, nor are all spenders alike. When you are deciding which credit card…

A: The objective of the question is to determine the best credit card option for Larry, who is not a…

Q: A company that provides a service or product to a customer on credit has an __________ from that…

A: A goods or service sold on credit is treated as assets of the business as these are customer…

Q: A good credit rating would be based on all the following criteria EXCEPT whether you   a. have a…

A: Credit rating is a representation of a borrower's credit profile. a good credit rating indicates…

Q: They can help you afford a vehicle, but you risk losing the car if you miss payments. This type of…

A: There are different types of loans that can be issued by banks, but some specific loans can also be…

Q: When a customer is delinquent on paying a notes receivable, your company has the option to continue…

A: Here in the questions, there are multiple sub-parts so we are doing the first three sub-parts  If…

Q: Obtaining credit begins with you. After you complete a credit application, the lender decides if you…

A: The objective of the question is to identify the factors that lenders consider when evaluating a…

Q: Revolving lines of credit generally do not involve the use of credit cards and often offer borrowers…

A: Overdraft protection is linked to your checking account in case you overdraw your account. It draws…

Q: All of the following can hurt your credit score EXCEPT

A: Credit Score: It is a metric used to measure the ability of individuals to pay back the amount…

Q: In your opinion, do the following Bank Products fall into a Routine, Limited or Extensive product…

A: Routine, limited, and extensive are categories used to describe the level of complexity and…

Q: Which of the following is a valid alternative action for an organization to take to minimize credit…

A: Accounts receivables refer to the amount that is yet to be received from the customers to whom goods…

Q: what is credit and why is it important how do you build your credit how do you check your credit…

A: Credit is a very important part of meeting one’s personal financial objective. It is used by…

Q: Which of the following is not a reason for the Jones Hardware Store to accept credit cards from…

A: the benefits of credit cards payments are : 1. faster payments 2. attractive offers  3. default in…

Q: MATCH WITH BEST ANSWER Accounts Receivable Insurance Having a client that does not pay can leave…

A: Accounts Receivable: It refers to the amount owed to a company by the external debtors of the…

Q: Question 7 Select the item that would be only a soft inquiry on your credit report. a car dealer…

A: Soft inquiry is the inquiry done by someone you give permission to check your credit history. It is…

Q: Fully understanding the contract terms of a loan or credit card is... Select one O A. Not very…

A: Understanding contract terms: It's important to fully understand the terms of a loan or credit card…

Q: Consumers should comparison shop for credit just as they would for any other consumer good or…

A: The objective of the question is to understand the relationship between a consumer's stage of the…

Q: So-called "payday loans" are targeted primarily at "poor people" O True O False QUESTION 43 Term…

A: Pay-day loans are short-term loans that allow the person to borrow until the next payday. The…

Q: Which of the following credit terms would be more generous to your customers:  n/30 or n/eom?

A: The answer for the question on credit term is discussed hereunder :

Q: Advantage and disadvantages of letters of credit and bankers acceptance.

A: Letter of credit is a letter in which the banks take the guarantee of the buyer that the buyer will…