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What is the most common form of credit used by consumer?
Revolving unsecured credit accounts (credit cards).
What is unsecured debt?
Any debt that does not have collateral property attached to it, (credit cards, personal loans, pay day loans, etc.). Secured debts are real property (homes, business, vehicles, goods purchased on merchant accounts, perfected liens, etc.).
What are the key differences between square individual and business accounts?
The key differences between square individual and business accounts are that individual accounts are meant for personal use, while business accounts are designed for businesses to accept payments, manage inventory, and track sales. Business accounts also offer additional features like employee management and reporting tools to help businesses operate more efficiently.
What services does JP Morgan Chase offer to businesses?
Chase has multiple services for businesses such as advanced checking accounts and special lending services. Also they offer business credit cards.
Can you purchase CD's in a SEP-IRA?
No, CD's are purchased in bank accounts (not brokerage) within Trad. or Roth IRA's
Can you deduct your unsecured debt from bank accounts when applying for government benefits?
No, There are assets and liabilities. An unsecured loan is a liability that does not offset an asset.
Do you have to be in business to have hsbc business internet banking?
HSBC Business Internet Banking has accounts for people with businesses but they also offer accounts for people without businesses. Personal accounts and business accounts.
What is the most common form of credit used by consumer?
Revolving unsecured credit accounts (credit cards).
What are some examples of accounts receivable and accounts payable?
Accounts Payable (AP) is the money owed to the vendors and suppliers for the products or services purchased. Accounts Receivables (AR) is the money due to the businesses for the goods or services delivered but not paid for yet bet the clients. Vee Technologies is one of the global leaders in Finance and Accounting services that ensures that Accounts Payable and Accounts Receivable are up to date.
What is unsecured debt?
Any debt that does not have collateral property attached to it, (credit cards, personal loans, pay day loans, etc.). Secured debts are real property (homes, business, vehicles, goods purchased on merchant accounts, perfected liens, etc.).
Why do businesses prepare control accounts?
don't know and what control of accounts do you need in a business
What is the difference between unsecured priority and unsecured non-priority?
Examples of unsecured priority debts are, child and/or spousal support, delinquent taxes, rent and utility arrears, any fines or restitution(s) that have been ordered by the court. Unsecured non-priority are, store cards, unsecured personal loans (unless held by a bank where the person has accounts), credit cards, and so forth.
What does the Journal entry look like for an Accounts Payable transaction?
[Debit] Goods purchased [Credit] Accounts payable
Pledging in regards to accounts receivable?
Pledging basically means the purchaser promises (pledges) to pay the dues to the seller in accordance with the terms and conditions of the sale.
Do most businesses periodically remove bad accounts from their books?
True
Why do popular businesses have to make their accounts available for the public?
Popular businesses do not have to make their accounts open to the public if they are privately held, but publicly traded companies do. This allows investors to evaluate whether to invest in a firm or not.
Assets purchased for resale are recorded in which of the following accounts?
Merchandise Inventory
