A borrower had submitted a loan application and was approved. She submits a change to her application, and it is now denied. Which of the following changes will most likely result in a loan being denied? The borrower begins to receive public assistance. The borrower mistakenly omitted a previous residence. The borrower is going to take maternity leave from her employer. D] The borrower assumes additional debt that was not previously reported.

A borrower had submitted a loan application and was approved. She submits a change to her application, and it is now denied. Which of the following changes will most likely result in a loan being denied? The borrower begins to receive public assistance. The borrower mistakenly omitted a previous residence. The borrower is going to take maternity leave from her employer. D] The borrower assumes additional debt that was not previously reported.

Business Its Legal Ethical & Global Environment

10th Edition

ISBN:9781305224414

Author:JENNINGS

Publisher:JENNINGS

Chapter13: Contracts And Sales:performance And Remedies

Section: Chapter Questions

Problem 4QAP

See similar textbooks

Similar questions

Which of the following is not considered “constructive receipt” income in 2020? A. Andrew Mason was informed that his check for services rendered was available on December 15, 2020, but he waited until January 16, 2021, to pick up the check. B. A payment on a sale of real property placed in escrow on December 16, 2020, but not received by Benjamin Miles until January 12, 2021, when the transaction was closed. c. Earned income of Candice Cord was received by her agent on December 30, 2020, but was not received by her until January 5, 2021. d. Daniel Dryer received a check on December 30, 2020, for services rendered, but was unable to make a deposit until January 5, 2021. e. Ellen Elks received stock on December 30, 2020, for services rendered, but was unable to find a buyer for the stock until January 20, 2021.
Ann's car has been repossessed by Bob Finance without any notice after Ann defaulted on two consecutive hire-purchase payments. Advise Ann whether Bob Finance is entitled to do so.
In choosing between taking the standard deduction and itemizing deductions from AGI, what effect, if any, does each of the following have? a. The age of the taxpayer(s). b. The health (i.e., physical condition) of the taxpayer. c. Whether taxpayers rent or own their residence. d. Taxpayers filing status (e.g., single, married, filing jointly). e. Whether married taxpayers decide to file separate returns. f. The taxpayers uninsured personal residence was recently destroyed by a wildfire (the region was declared a disaster area by the Federal government). g. The number of dependents the taxpayer can claim.
Due to his debt to Chur, Schwyz wrote a promissory note which is payable to the order of Chur. Chur's sister, Sion, misrepresenting herself as agent of Chur, obtained the note from Schwyz. Sion then negotiated the note to Lausanne after forging the signature of Chur. May Lausanne enforce the note against Schwyz? a. Yes, since Schwyz is the principal debtor. b. No, since it is Chur who can enforce it, the note being payable to the order of Chur. c. No, since the signature of Chur was forged. d. Yes, since Schwyz, as maker, is primarily liable on the note.
Mohammed is in serious financial difficulty and is unable to meet current unsecured obligations of $20,000 to some 14 creditors who are demanding immediate payment. Mohammed owes Aminu $5,000, and Aminu has decided to file an involuntary petition against Mohammed. Which of the following is necessary for Aminu? Aminu must be joined by at least two other creditors. Mohammed must have commited a fraudulent act within one year of the filing. Aminu must allege and subsequently establish that Mohammed's liabilities exceed its assets upon fair valuation. Aminu must be a secured creditor.
During 2020, Jackie sent her brother Junnie $2,500 via a telegraphic transfer through El Banco Prieto. The bank’s remittance clerk made a mistake and credited Junnie with $250,000 which he promptly withdrew. The bank demanded the return of the mistakenly credited excess, but Junnie refused to do so. The BIR entered the picture and investigated Junnie. Would the BIR be correct if it determines that he earned a taxable income under the facts? No, it was not her fault that the funds in excess of $2,500 were credited to him. Yes, income is a taxable income regardless of the source No, he had no income because he had no right to the mistakenly credited funds. No, the funds in excess of $2,500 were in effect donated to her.