Mr. Jones's loan application has been denied and he is provided with an Adverse Action Notice as required by ECOA. Which of the following pieces of information would not be included on the notice?
a. Information on the credit reporting agency if the adverse action is based on his credit report
b. Reasons for the denial of credit
c. A description of credit he requested
d. His credit score
Ans: d. His credit score
Business
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Which of the following is a liability?
a. Account payable b. Account receivable c. Cash d. Inventory e. expense
Business
On January 1, Jean Loptein Inc. issued $3,000,000, 9% bonds for $2,817,000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Jean Loptein uses the effective-interest method of amortizing bond discount. At the end of the first year, Jean Loptein should report unamortized bond discount of
a. $164,700. b. $171,300. c. $154,830. d. $153,000.
Business