Answer:
if the flotation costs were 2%, the after-tax cost of debt is 5.10%
if the flotation costs were 11%, the after-tax cost of debt is 4.63 %
Explanation:
After-tax cost of debt = Market Interest × ( 1 - tax rate)
Calculation of the Market Interest
Hint : Use the time value of money principles
Pv = -$1,000
Pmt = $1,000 × 8 % = $80
P/yr = 1
N = 20
Fv = $1,000
YTM = ?
Using a financial calculator, the market interest is 8%
After-tax cost of debt = Market Interest × ( 1 - tax rate)
= 0.08 × (1- 0.35)
= 0.052 or 5.20 %
If Flotation cost is 2%
Net Receipts after flotation cost = Cost × ( 1 - flotation rate)
= 5.20 % × (1-0.02)
= 5.096 % or 5.10% (two decimal places)
If Flotation cost is 11%
Net Receipts after flotation cost = Cost × ( 1 - flotation rate)
= 5.20 % × (1-0.11)
= 4.628 % or 4.63 % (two decimal places)
match each type of area with the correct level of housing prices?
URBAN
EXURBAN
SUBURBAN
LOW HOUSING PRICES
MEDIUM HOUSING PRICES
HIGH HOUSING PRICES
Answer and Explanation:
The matching of the area with the level of housing prices is as follows
Urban = High housing prices
As urban refers to that area in which there is a large population so of course the prices of the houses are high
Exurban = Low housing prices
The exurban is located in the rural areas in which there are less populations as compared to sub
Suburban = Medium housing prices
In this the population is more than the exurban
Following are transactions of ABC., a new company, during the month of January: Issued 10,000 shares of common stock for $15,000 cash. Purchased land for $12,000, signing a note payable for the full amount. Purchased office equipment for $1,200 cash. Received cash of $14,000 for services provided to customers during the month. Purchased $300 of office supplies on account. Paid employees $10,000 for their first month's salaries. How many of these transactions decreased ABC's total assets
Answer:
One
Explanation:
According to the given scenario, the total assets are decreasing in the last transaction.
Acquisition of land, equipment, sale of common stock, receiving cash from the buyer and on the other hand acquisition of supplies is not reducing the assets of the company.
Here, the decreasing of total assets is $10,000 and the amount of salary is reducing the cash by $10,000.
Brian owns a company that makes inexpensive replacement parts for bicycles. He's ready to increase the scale of his business and wants to use Google Display Ads to drive sales. Which feature of a Google Display Ads will help Brian achieve his business objectives?
Answer:
His ads can appear on websites relevant to bicycles, and therefore connect him to his potential audience.
Explanation:
Search engine optimization in marketing involves including keywords in the content so that when users search for materials related to such content, the content would appear among the relevant results. For businesses that want to improve the sales of their products by making use of Google Display Ads, it is important to use keywords as the content of the advertising so that the advertisements can appear on websites relevant to the potential audience.
The main goal of advertising would be defeated if the products are marketed to people who have no interest in them. If Brian's bicycles are marketed on a website containing content for children, it would be difficult for him to make sales. Google Display Ads ensure that the right audience see the advertisements.
The way that Nederlander's Audience Rewards program works is that patrons and new customers get free membership and are entered into the ticketing system. When they buy tickets, they collect points and are able to redeem them for free or discounted tickets and other rewards. Which of the following consumer sales promotion methods is the program based on?
A. Consumer games
B. Frequent-user incentives
C. Coupons
D. Cents-off offers
Answer:
B. Frequent-user incentives
Explanation:
Consumer sales promotion refers to the techniques that are adopted by the marketing team of the company to fascinate and excite the customers to buy the products. Customer incentive programs are one of the methods of sales promotion. In this method, the customers are provided with additional benefits via redeeming the points they collect when they purchase the products. This method also helps in maintaining customers by offering such incentives to them.
In the given excerpt, Nederlander's audience rewards program is an example of a frequent-user incentive method of consumer sales promotion.
In a competitive market, a computer store offers customers a warranty to help pay for any future damages. This is an example of following a federal regulation. lowering prices for customers. reducing the risk for consumers. creating a new or better product.
Answer:
The answer is reducing the risks for customers.
Explanation:
Businesses in a competitive market do many things to outshine their competitors. One of such things is offering a warranty to help pay for future damages. A warranty is simply an assurance that the business would be willing to help if a customer experiences challenges from use of the product sold by the business outfit. The business would either get the product fixed or give a new one to the customer with no additional cost.
Customers/consumers love warranty because it gives them full assurance and sense of security. As such, any business which offers warranties on their products would be seen as prepared to help reduce the risk for consumers of ther products.
Answer:
C
Explanation:
Consider a risky portfolio. The end-of-year cash flow derived from the portfolio will be either $70,000 or $195,000, with equal probabilities of 0.5. The alternative riskless investment in T-bills pays 4%. a. If you require a risk premium of 8%, how much will you be willing to pay for the portfolio?
Answer: $118,304
Explanation:
Given the following:
End of year cashflow of portfolio is either :
$70000 or $195,000
Probability of either equals = 0.5
With a riskless investment in T-bills of 4% and a risk premium of 8%, then the expected rate of return = 12%
Therefore ;
Amount of portfolio × (1 + expected rate of return) = expected cashflow.
Expected cash flow = probability × end of year cashflow
Expected cashflow = (0.5 × 70000) + (0.5 × 195000)
= 35000 + 97500 = $132500
Therefore ;
Amount of portfolio × (1 + 0.12) = 132500
Amount of portfolio × 1.12 = 132500
Amount of portfolio = 132500/1.12
Amount of portfolio = $118,303. 57
=118,304
If you invest 50 percent of your funds in a stock with beta=1.5, 30 percent in a stock with beta=0.9 and 20 percent in a stock with beta=0.3, your portfolio beta will be
Answer:
1.08
Explanation:
The computation of the portfolio beta is shown below:
Portfolio beta is
= Invested stock percentage × beta of the stock + Invested stock percentage × beta of the stock + Invested stock percentage × beta of the stock
= 0.50 × 1.50 + 0.30 × 0.90 + 0.20 × 0.30
= 1.08
We simply applied the above formula so that the portfolio beta could come and the same is to be considered
Which of the following is not a principle regarding the way lean systems function? (I) Identifying customer values (II) Focusing on processes that create value (III) Elimination of waste to create flow (IV) Increasing forecast accuracy (V) Producing only according to customer demand (VI) Optimizing on setup costs with long production runs (VII) Striving for perfection
Answer: These are not principles regarding the way lean systems function IV) Increasing forecast accuracy
(VI) Optimizing on setup costs with long production runs
Explanation:
A Lean system principle applies that businesses and organisations plan and prioritize their work output in relation to identifying and catering to customer values thereby eliminating things that do not add value and on the other hand ensuring sustainability and productivity of the organisation as a whole.
There are basic principles businesses adopt to improving workplace productivity and efficiency which include:
1) defining customer value,
2)identify the factors that contribute to the value stream and waste elimination
3) creating flow and strategic processes that create value
4) Ensuring products are produced according to demand and the right time
5) Strive for perfection.
Therefore option IV) Increasing forecast accuracy and
(VI) Optimizing on setup costs with long production runs are not lean system principles.
The insurer must be able to rely on the statements in the application, and the insured must be able to rely on the insurer to pay valid claims. In the forming of an insurance contract, this is referred to as
Answer:
utmost good faith
Explanation:
The utmost good faith refers to the principle in which both the parties are acted honestly i.e it disclosed all the information related to the insurance and does not misguide anything to gain a benefit in term of profit
Therefore in the given case, there is a contract made between the two parties where they trust each other and hope that they treated each one in a honest manner
So this situation represent the utmost good faith
Karen owns a large online business selling antiques. She wants to create a Smart Display campaign. What are two of the three inputs she must supply in order to create a Smart Display campaign? (Choose two.)
Answer:
The two input she must supply are;
1. Budget Amount
2. Creative Assets
Explanation:
The three inputs she must supply in order to create a Smart Display campaign are Bid, Budget amount and creative assets. So, as question species two of three, I think the most important for Karen are budget amount and creative assets since the former state the amount of money that are available to spend while the latter state the workloads or files that are to be processed or executed.
Based on the provided information, the two of the three inputs she must supply in order to create a Smart Display campaign are;
Budget creative assets.According to the question, we are to discuss about Karen who owns a large online business selling antiques and how she wants to create a Smart Display campaign.
As a result of this we can see that smart Display campaigns is regarded as one that brings about the automation as well as optimization of target.
Therefore, the other inputs that must be supplied by her in order to create a Smart Display campaign is Bid.
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1. Looking at Nigeria as a potential emerging market, mention and explain 4 factors you think are preventing Nigeria from becoming an excellent emerging market to invest in? 2. If you were given the chance, resources and power to change Nigeria, which one out of the 4 problems identified above would you try to solve and how would you do it?
do not understand what you are saying
Which statement regarding forecasting is false? If you are only forecasting cash then the cash flow statements are the only one you need to prepare You should review historical financial statements The base year is the year immediately before the first year you are forecasting Typically you use the base year as your starting point forecasting
Answer:
The False Statement is :
If you are only forecasting cash then the cash flow statements are the only one you need to prepare
Explanation:
Cash forecasting does not stand in isolation. Other statements such as the Trade Receivables statements showing cash receipts amounts and timings or Trade Payable Statements showing cash payments amounts and timing are critical and also need to be prepared.
Flying High Manufacturing produces frisbees using a threeminusstep sequential process that includes molding, coloring and finishing. When the frisbees and associated costs are transferred from the molding process to the coloring process, which account is debited?
Answer and Explanation:
The journal entry is shown below:
WIP inventory - Coloring Dr XXXXX
To WIP inventory - molding XXXXX
(Being the transferring from the molding process to the coloring process is recorded)
For recording this we debited the WIP inventory of Coloring as it increased the assets and credited the WIP inventory of Molding as it decreased the assets
An analysis of comparative balance sheets, the current year's income statement, and the general ledger accounts of Hailey Corp. uncovered the following items. Assume all items involve cash unless there is information to the contrary.
Indicate how each item should be classified in the statement of cash flows using these four major classifications: operating activity (that is, the item would be listed among the adjustments to net income to determine net cash provided by operating activities under the indirect method), investing activity, financing activity, and significant noncash investing and financing activity.
(a) Payment of interest on notes payable.
select an option Investing Activity Financing Activity Operating Activity Noncash Investing and Financing Activity
(b) Exchange of land for a patent.
select an option Noncash Investing and Financing Activity Investing Activity Financing Activity Operating Activity
(c) Sale of the building at book value.
select an option Financing ActivityInvesting Activity Noncash Investing and Financing Activity Operating Activity
(d) Payment of dividends.
select an option Noncash Investing and Financing Activity Operating Activity Financing Activity Investing Activity
(e) Depreciation.
select an option Operating ActivityNoncash Investing and Financing Activity Investing Activity
(f) Conversion of bonds into common stock.
select an option Financing Activity Investing Activity Noncash Investing and Financing Activity Operating Activity
(g) Receipt of interest on notes receivable.
select an option Investing Activity Financing Activity Noncash Investing and Financing Activity Operating Activity
(h) Issuance of capital stock.
select an option Financing Activity Investing Activity Operating Activity Noncash Investing and Financing Activity
(i) Amortization of patent.
select an option Operating Activity Financing Activity Noncash Investing and Financing Activity Investing Activity
(j) Issuance of bonds for land.
select an option Operating Activity Noncash Investing and Financing Activity Investing Activity
(k) Purchase of land.
select an option Financing Activity Investing Activity Operating Activity Noncash Investing and Financing Activity
(l) Receipt of dividends on investment in stock.
select an option Investing Activity Financing Activity Operating Activity Noncash Investing and Financing Activity
(m) Loss on disposal of plant assets.
select an option Noncash Investing and Financing Activity Investing Activity Financing Activity Operating Activity
(n) Retirement of bonds.
select an option Financing Activity Investing Activity Operating Activity Noncash Investing and Financing Activity
Answer:
Item - Type of Activity
(a) Payment of interest on notes payable - Operating
(b) Exchange of land for a patent - Non cash investing and Financing
(c) Sale of the building at book value - Investing
(d) Payment of dividends - Financing
(e) Depreciation - Operating
(f) Conversion of bonds into common stock - Operating
(g) Receipt of interest on notes receivable - Operating
(h) Issuance of capital stock - Financing
(i) Amortization of patent - Operating
(j) Issuance of bonds for land - Non-cash Investing and financing
(k) Purchase of land - Investing
(l) Receipt of dividends on investment in stock - Operating
(m) Loss on disposal of plant assets - Operating
(n) Retirement of bonds - Financing
Trade discount is given to encourage buyers make purchases in ____ quantities.
Answer:
Bulk
Explanation:
Trade discount is the reduction in the retail price of products that arises from bulk sales or purchases.
Thirty-five members of the Ortiz extended family were spread across three states—Illinois, New York and Florida—and they rarely were able to get everyone together. For Thanksgiving 2018, Mary Elizabeth Ortiz decided to surprise her family by booking a mountain retreat for the entire clan. She especially wanted to celebrate her uncle's return from overseas military service. On September 15, 2018, Mary rented a spectacular lodge in the Tennessee Smoky Mountains with over 20 bedrooms and an incredible view, paying in advance the full $2,500 per night fee for 3 evenings, but not purchasing travel insurance. The lodge had the following cancellation policy: "A sixty (60) day notice is required for cancellation. Cancellations that are made within 60 days of the arrival date, for any reason, forfeit the full advance payment and reservation deposit. You are advised to purchase travel insurance separately if cancellation costs are a concern." The rental contract also stated that the only exception would be for "acts of God, such as fires or earthquakes." One week before Thanksgiving, Mary's uncle had a heart attack and was hospitalized. The next day, November 16, 2018, Mary cancelled the reservation, and requested a full refund, which the lodge refused to provide. Does Mary have a claim for the return of her $7,500?
Q7. Start at one of the corners and move clockwise
around the square finishing in the centre to create a
nine-letter word.
E E
TIMER
os
A
HP
Scroll for details
CC
8:16 /16:05
DELL
Answer:
EARPHONES
Explanation:
We are to create a nine letter word. Start from any of the corners while moving in a clockwise direction.
There are four corners in the box:
Top left and bottom right corners have blanks, letter in the top right and bottom left corners are E and H respectively.
Hence, we would have 4 possible nine-letter word combination.
Let's state the possible nine-letter words
From the top left corner: _EEA_PHOS
From the bottom left corner: _PHO_EEAS
From the top right corner: EA_PHO_ES
From the bottom right corner: _PHO_EEAS
From the top right corner, we can form the word: EARPHONES
The missing letters are 'R' and 'N'
A city starts a solid waste landfill during 2017. When the landfill was opened the city estimated that it would fill to capacity within 5 years and that the cost to cover the facility would be $1.5 million which will not be paid until the facility is closed. At the end of 2017, the facility was 20% full, and at the end of 2018 the facility was 45% full. If the landfill is judged to be a governmental fund, what liability is reported on the fund financial statements at the end of 2018
Answer:
The interpretation of the particular question is outlined in the following segment on the clarification.
Explanation:
The facility was indeed 20 percent full by either the end of December 2017 therefore the 3,00,000 would still have been recognized as an expenditure.
The facility also seems to be 45 percent complete at either the end of 2018, meaning that the 3,75,000 will have been accepted as expenditures,
⇒ [tex]1,500,000\times (45 \ percent-20 \ percent)[/tex]
By most of the end of the decade, the financial sheet provides a snapshot 6,75,000 although this debt would be,
⇒ [tex]1,500,000\times 45 \ percent[/tex]
So 3,75,000 should have been shown as the cost of the rest in the financial information for 2018, as well as 6,75,000 would have been shown as contractual obligations.
Toby is the commissioner of environmental matters for State X, the state with the cleanest air in the nation. U.S. Pollution Company wants to move into State X. Unfortunately, State X has had a severe economic downturn. Many of the citizens are ready to trade some environmental cleanliness for jobs. Toby is on the hot seat. The governor and others say that State X has done well and has always beaten all other states in meeting national ambient air quality standards. In fact, State X is so far in compliance that Pollution Company could operate for many years before there was a problem. What would you suggest to Toby regarding compliance with the Clean Air Act?
Answer:
- Toby should not disregard the Clean Air Act because it requires that air quality in those areas that meet the national ambient air quality standards not be allowed to deteriorate.
Explanation:
As per the given details, Toby should be suggested not to disregard the Clean Air Act as 'it needs that air quality in the areas meeting the national ambient air quality standards not be allowed to deteriorate.' Thus, Toby must take his decision regarding the movement of 'U.S. POllution Company' to state X accordingly as he can not let the quality of air that state X has managed for years to deteriorate and go against the compliance he has towards the 'Clean Air Act.' Some other options can be used to cope with the economic slowdown faced by the people of this state.
The blend of variables including advertising, personal selling, sales promotion, and direct marketing that are designed to satisfy the needs of a company's customers and achieve organizational objectives through various communications is referred to as the
Answer:
Promotional mix.
Explanation:
This is said to entail blends or combinations of different forms of marketing activities which ranges from sales, direct marketing, advertising and many other marketing strategies which coordinates many other activities or programs that makes you perform very well and aid in your contact and also interaction with your customers.
This can be determined in many ways but the important aspect is that of grouping people in trenches in a way it benefit this strategy as it satisfy customers needs and aids achievement of organizational objectives through various communications.
In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 2889 for December's utilities was correctly written and drawn for $270 but was erroneously entered in the accounting records as $702. The journal entry to adjust the books for the bank reconciliation would include which of the following for this situation?
A. Add 3,600 to the book balance of cash.
B. Add $3,700 to the bank statement balance.
C. Add $7,390 to the book balance of cash.
D. Deduct $3,600 from the book balance of cash.
Answer:
$432 Added in the balance of cash book
Explanation:
Given:
Amount of check = $270
Accounting record = $702
Find:
Correction.
Computation:
Added in the balance of cash book = Accounting record - Amount of check
Added in the balance of cash book = $702 - $270
Added in the balance of cash book = $432
Tsintah weaves traditional Navaho rugs. She weaves and sells 50 rugs. Her average cost of production per rug is $50. She sells each rug for a price of $65. Tsintah’s total revenues are a. $750. b. $2,500. c. $3,250. d. $5,750.
Answer:
Tsintah’s total revenue = $3,250
Explanation:
Given:
Number of rugs sale = 50
Cost of production of 1 rug = $50
Sales amount of each rug = $65
Find:
Tsintah’s total revenue
Computation:
Total revenue = Number of product sale × sales price
Tsintah’s total revenue = Number of rugs sale × Sales amount of each rug
Tsintah’s total revenue = 50 × $65
Tsintah’s total revenue = $3,250
Which of the following entry-level jobs requires a four-year college degree?
O A. Marketing researcher
B. Purchasing agent
C. Retail sales agent
D. Graphic designer
Answer:
Marketing researcher
Explanation:
A Marketing Researcher which is also known as marketing research analyst can be seen as a person or an individual which is responsible for helping to analyze information from marketing reports as well as helping to make recommendations based on his or her analysis because the MARKETING RESEARCHER recommendations enables and help the marketing team to know how they will strategize their projects and to maintain a steady base of great customers for the business.
Therefore MARKETING RESEARCHR is an entry-level jobs which requires a four-year college degree because a Market research analysts need a bachelor's degree in market research .
Answer:
A. Marketing researcher.
Explanation:
If you just look at the last part of the answer choices, the answer becomes kind of clear:
Marketing researcherPurchasing agentRetail sales agentGraphic designerWhich one do you think would get paid more? The researcher, the agent, or the designer?
The U. S. national debt:______________.
a. will be paid off when the budget is finally balanced.
b. is paid off each fiscal year when the debt is refinanced.
c. will never be paid off in any given year, but it will be entirely paid off when it is refinanced over a number of years.
d. equals the dollar amount of outstanding U.S. Treasury bonds
Answer:
d. equals the dollar amount of outstanding U.S. Treasury bonds
Explanation:
The National debt is entirely represented by the total dollar amount of outstanding U.S. Treasury bonds, both those bonds that are held by the public (private citizens), or by other governments.
Currently, the U.S. National Debt is over 24 million, and the amount of debt that can be issued in the form of U.S. Treasury bonds is limited by the national debt ceiling.
In a typical underwriting arrangement, the investment-banking firm I) sells shares to the public via an underwriting syndicate. II) purchases the securities from the issuing company. III) assumes the full risk that the shares may not be sold at the offering price. IV) agrees to help the firm sell the issue to the public but does not actually purchase the securities. Group of answer choices II and III I and II I and IV I, II, and III I, III, and IV
Answer: I, II & III
Explanation:
In a typical underwriting arrangement, the investment-banking firm;
I) sells shares to the public via an underwriting syndicate.
II) purchases the securities from the issuing company.
III) assumes the full risk that the shares may not be sold at the offering price.
_____ allows industries, organizations, and companies to approach business decisions from different perspectives. Arbitration Ergonomics Tolerance Workforce diversity
Answer:
Workforce diversity
Explanation:
Workforce diversity refers to similarities and differences between employers and employees in terms of their race, religion, gender, perspectives and opinions.
Diversity is important for every industry, organization, and company since people have different perspective and views, they approach business problems differently, leading to different solutions. Diversity leads to increase profits, creativity, wide range of skills e.t.c.
Synergistic benefits can arise from a number of different sources, including operating economies of scale, financial economies, and increased managerial efficiency.
a) True
b) False
Answer:
A. True.
Explanation: Synergistic Benefits is a term used to describe and show that the combined performance and worth of a combined entity or two Businesses will be greater than the sum of the individual Business worth/value or performance.
It helps to ensure that Organisations work in synergy or combined efforts towards achieving excellence.
An investment advisory firm does its own research, using a group of dedicated employees and has a separate staff of investment adviser representatives (IARs) who solicit new accounts. In an effort to maintain confidentiality between the research staff and sales staff, the investment adviser MUST:
OPTIONS:
A. establish a Chinese Wall between the research personnel and the sales personnel
B. register both the research personnel and the sales personnel in each State where the IA's services are offered
C. cross-train the research personnel and the sales personnel in each other's functions so that in the event of a confidentiality breach, one can take over the functions of the other
D. establish two separate IA firms registered with the State with one only having research personnel and the other only having sales personnel
Answer: A. establish a Chinese Wall between the research personnel and the sales personnel
Explanation: In a bid to maintain confidentiality and avoid leakage of vital information, there must be a barrier between the research personnels who makes findings on investment opportunities and packages for client needs and the sales personnels. This is because, research and investment informations are treated as classified and leakage could lead to bias, whereby some consumers will get the information and make moves before other consumers are informed via official release by the firm.
Agent John is planning to conduct a series of events. Some will be strictly educational, others will be formal presentations of specific UnitedHealthcare plans, and others will be informal marketing events where he can generate leads and schedule future in-home marketing appointments. Of the three types of events John plans to conduct, which need to be reported to UnitedHealthcare?
Answer:
informal marketing events where he can generate leads and schedule future in-home marketing appointments
Explanation:
Agents working with UnitedHealthcare, conduct different types of activities which range from, educational events, formal presentations, and informal marketing events. Informal marketing events are expected to be reported to UnitedHealthcare. These events can be reported using the bconnected and the event request forms. These reports may begin with an introductory presentation. In such cases, the event type is recorded as, 'Resource Center'.
Also, educational content could be presented along with the informal sales event. It begins with a short introduction, followed by the actual facilitation of the event using a kiosk, booth, or table. All the rules which guide the conduction of these events should be adhered to strictly by the agent.
Agent John will need to report the plans to the United Healthcare which are of the informal nature. So John will have to report the informal events where he can generate leads.
John will also be able to schedule in-house marketing appointments in the future, if any as he will also have a financial interest in such kind of informal events.
Agent John has planned to host a series of events of which the informal nature events will help Agent John to report such plans to the United Healthcare.These events will strictly need to be reported as John will develop leads and will be making some in-house marketing appointments in the future having monetary purpose. So, to let the United Healthcare know about such monetary purpose, they will be eligible to be checked and verified and produced when demanded by Agent John in order to comply with laws.Hence, Agent John will have to report the informal events where he will generate leads to the United Healthcare to comply with regulations.
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Which of the following statements are true about authorized direct payments: (select all that apply)
a. It can be easy to forget what gets paid each month and when and make sure you have enough money in your checking account to cover automatic payments
b. Banks make many mistakes while processing these types of withdrawals
c. It is convenient
d. Automatic payment plans can be set up in a matter of minutes. But stopping them can be much more difficult. Sometimes you have to notify your bank and your merchant, and you may even need to do it in writing.
e. It is very expensive to enroll into automatic bill payment.
f. Once you enroll into automatic bill payment, you have to authorize direct deposits to your account on regular basis.
Answer:
a. It can be easy to forget what gets paid each month and when and make sure you have enough money in your checking account to cover automatic payments
c. It is convenient
d. Automatic payment plans can be set up in a matter of minutes. But stopping them can be much more difficult. Sometimes you have to notify your bank and your merchant, and you may even need to do it in writing.
Explanation:
Authorized Direct Payments give permission to an entity to withdraw a certain amount from your bank account to pay bills or other expenses. It is typically collected at a regular interval which is usually in months.
When using this it can be easy to forget that you have given permission for your money to be withdrawn from every period because you are not dealing with it directly. This means that you might even forget to adequately fund your account to enable the payment.
This type of payment is however very convenient as it means that you do not have to sign orders or checks every period because the payment just goes through automatically without bothering you.
As part of their convenience, these types of payments can be set up relatively fast. Stopping them on the other hand is a bit more difficult because it requires following up on multiple parties including the merchant and your bank. You would have to tell the merchant to stop collecting the payments sometimes by letter. Then you would have to issue a stop order to your bank to make sure they stop the payments. Then you have to ask for an update after some days from all parties to ensure that indeed your request has been carried out.
Statements that are right about authorized direct payments are;
It can be easy to forget what gets paid each month and when and make sure you have enough money in your checking account to cover automatic payments.It is convenient. Automatic payment plans can be set up in a matter of minutes. But stopping them can be much more difficult. Sometimes you have to notify your bank and your merchant, and you may even need to do it in writing.What is authorized direct payments?A authorized direct payments is a kind of payment that occur when one authorize a company to electronically collect a pre-authorized amount from your checking in order to a bill.
It is an automatic payment plans can be set up in a matter of minutes and it's time saving.
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