(a)
Annual Report
An annual report of the business refers to the periodical report published by the business about its financial conditions. It is meant for the interested parties particularly the investors and the creditors to take informed decision. A typical annual report contains an overview of the business like about the business it is into, the related industry, its growth strategy, its brands, the competitors, and the risk of the business. They are also called as Form 10-K and Form 10-Q.
To discuss: The bank response to the home loan application in the event of signing a guarantee for the friend for availing a loan of $20,000.
(b)
To discuss: The bank response to the home loan application in the event of the person involved in an auto accident, and that the person may have to pay for $50,000 as part of a settlement.
(c)
To discuss: The bank response to the home loan application in the event of the Company in which the person is working is not doing very well, and it has recently laid-off employees. But the person is still employed, and is quite possible that the person will lose his job in the next few months.
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Financial Accounting: Tools for Business Decision Making, 8th Edition
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