What do you do if you find yourself in debt?O Stop increasing your debt.O Put the credit cards away.O Pay the minimum or more.O Make on-time payments.O Ask the company to lower interest rate.O Don't spend more than you can afford.O Call a nonprofit company and ask for debt counseling.O All of the above.

Debt is the sum of money that a person owes to another. It is an obligation of one party to pay…

Answered: What do you do if you find yourself in…

Foundations of Business - Standalone book (MindTap Course List)

4th Edition

ISBN:9781285193946

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter15: Using Management And Accounting Information

Section: Chapter Questions

Problem 5DQ

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Read each statement below and indicate whether it is a good or bad reason for using debt. Statement You have unused credit available on your credit card. Debt provides the means to make guaranteed reservations. Paying costly interest charges results in a reduction in disposable income. Debt provides protection against rip-offs and fraud. Debt provides financial flexibility in the case of emergencies. Bad reason Good reason
How you would respond to the question in an interview “Tell me about yourself” if you are applying for a job of finance manager in a well reputed firm.
what are the alternatives for someone who wants to keep running their business without having standard business credit.
You are initiating a small delivery service in Cuyahoga County. You have maximized your use of your own cash and credit, but are unwilling to go to a commercial institution for a loan, or ask suppliers for credit. You can consider turning to what source for funding, but you must codify your arrangement in a formal manner.
The text describes three ways to restore solvency to the Social Security trust fund. Which of these do you favor and why? Would you support means testing of Social Security beneficiaries? Why or why not? What suggestions would you offer to encourage people to save privately for retirement? What barriers exist that affect people’s retirement savings, and how would your ideas address those barriers?
Where do you think people should seek financial advice? Identify all the sources. In what circumstances might you seek a professional financial advisor?
Think about the factors involved in each of the situations below. Solve the problems by applying the concepts in Chapter 18. Where can your firm find financing? Prepare your initial discussion by providing a detailed response with at least three paragraphs. Your company needs a new copy machine quickly. The high-volume, multifeatured model you want costs $3,000, but your small business doesn’t have that much cash on hand right now and doesn’t want to borrow at this time.
Describe a purchase or expense in your workplace that you or your bosses made which turned out to cost much more than expected (or cost far less than expected, with the added stipulation that everyone found the investment to be much more valuable than anticipated), and what the impact on the business was. Limit this discussion to non-food-related investments.
What factors should businesses consider when determining financing needs to determine whether they can repay the debt? a. Inventory b. Depreciation c. Liquidity d. Equity
Why do the finance officers need to understand the other functional areas of the business and why do they need to have a good communication skill?
What should you consider when looking for a financial planner? o finding one who consistently loses money for his or her clients how much the financial planner has saved for his or her retirement how much he pays you for working with him or her your cost of doing business with him or her
Imagine you are an entrepreneur and you are going to write a request email to a National bank ,In the email, ask if the bank would be give you a loan to help you start your business

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