Compare secured and unsecured credit in your own words. Cite an example for each. You may place your answers on the comment section.

Q: Explain the characteristics of credit products.

A: When the banks or any financial institutes commitments or guarantees on the behalf of the customers…

Q: What are industry benchmarks, and why are they used in the credit evaluation process?

A: The answer for the question on the industry benchmarks used in the credit evaluation process is…

Q: What do I need to do to build a solid credit history and how can I maintain it?

A: credit score history is a method to judge a customer's capability of paying his credit amount taken…

Q: What is easy-access credit?

A: Introduction: The ability to borrow cash or obtain goods or services with expectation of repaying it…

Q: Explain the other sources of credit

A: The term credit can be defined as the agreement between two parties involving a borrower and a…

Q: Explain how does the trade credit is offered on open account.

A: Trade credit is the easiest and most important source of short-term finance available to businesses.…

Q: What is the difference between a credit score(FICO) and a credit report. How/where can you check…

A: Credit Score- It is a number that  helps the lender to evaluate the credit worthiness  of an…

Q: Sales made to Ahmed on credit should be debited to.

A: The phrase "credit sales" alludes to the exchange of possession of products and services to a…

Q: xplain the importance of maintaining good credit rating

A: Credit refers to the ability of an individual or an entity to borrow money from some other…

Q: Identify the following users as either an internal (I) or an external (E) user. Creditor

A:

Q: Find an Example of a Commercial credit policy from the internet and highlight thei important parts…

A: The commercial credit, often known as the business credit sheet, corresponds to a sum of the…

Q: how to understand the characteristics of letter of credit

A: A letter or document issued by the bank in order to give guarantee payment to the seller is referred…

Q: Which of the following forms cannot be customized? Select one: A. Estimate B. Sales Receipt C.…

A: Under QBO there is a feature to customize your forms.

Q: Give an example of consumer credit and explain the process how it is processed from application to…

A: The customer is allowed to ask for credit in case of no availability of funds. The suppliers provide…

Q: Explain what important information we can get from each sources of credit information to be able to…

A: Financial organizations seek to reduce the risk of supplying to borrowers by completing a credit…

Q: Which of the following is not a company that can provide you with a look at your credit score? a.…

A: There are three companies given in the question which are working in the credit field: Credit Karma…

Q: What should be in the credit file

A: Following is the contains in credit file

Q: scuss the process of auditing the following: • Revenue • Receivables • Expected Credit Lo

A: An audit, for example, is a type of on-site verification, similar to an inspection or examination,…

Q: Definition of granting credit and give examples and illustrations

A: Credit - Credit refers to a term in which a sum of money is received by a borrower and is repaid to…

Q: Where i can used credit union

A: Whenever a group of people collect deposits and use those deposits to give loans, it is known as…

Q: What is open-end credit and give and example

A: Open-end credit is a type of loan which is approved between the borrower and the financial…

Q: How can you have a good credit history?

A: Good credit history can be maintained by complying with the terms and conditions and ensuring that…

Q: One article  regarding  "Credit Transaction" issues and how it was resolved. Make a comment about…

A: To charge whatever they wish for credit. Usury laws set up a greatest pace of legitimate interest.…

Q: equest a

A: Manufacturing overhead rates refer to the regulated factory expenses designated for each unit of…

Q: What are the four elements of a credit policy? Briefly explain.

A: Following are the four elements of a credit policy: Credit standards: Consider potential clients by…

Q: what is credit and why is it important how do you build your credit how do you check your credit…

A: Credit is a very important part of meeting one’s personal financial objective. It is used by…

Q: Credit and collection management is also known as RCM. What is RCM and its meaning

A: credit and collection management is that term mostly used in the accounting for goods and services…

Q: Define the following using your own words and give examples Account T-account To debit

A: As per the guidelines, only three subparts are allowed to be solved. Please resubmit the remaining…

Q: What are the main definitions of credit facilitation, billing and invoicing, remittance processing,…

A: Credit facilitation-Credit facilitator refers to a person in the CFP Online System who is designated…

Q: What section of FASB provide guidance on referral credit paid to customers?

A: FASB stands for "Financial Accounting Standards Board , which was established in the year 1973.It is…

Q: What are credit memos and debit memos?

A: SOLUTION- INVOICE IS A DOCUMENT SUBMITTED TO A CUSTOMER , IDENTIFYING A TRANSACTION FOR WHICH THE…

Q: mportance of a credit score for financial planning.

A: Since there are multiple questions are given, so as per answering guidelines we do only first one.

Q: Identify and explain credit scores and credit reports including accessing them

A: Credit is defined as the trust, which helps in allowing one party for providing the funds or…

Q: _____ is the most popular type of open-end credit. Amount creditFinance credit     Installment…

A: Open-end credit is a type of loan provide by banks or financial institutions to the borrower. The…

Q: What is the objective of having a control system and what is the key points of a credit control…

A: Internal control:   Internal control can be defined as a process to ensure achievement of the…

Q: Choose one as the most important Cs of Credit and explain why?

A: In order to determine the creditworthiness of the borrower, a lender conducts a thorough analysis of…

Q: How a credit check in advanced technology system different from a credit check in basic technology…

A: Credit Check:   Credit check is defined as the process of examining the financial behavior of a…

Q: 1. When would you choose to give a refund after creating a Credit Memo?

A: Answer: As per Q/A guideline, first question has been answered. Please repost remaining question.…

Q: A formal written instrument of credit that has been received for the amount a customer owes is…

A: The written instruments includes voucher, promissory note, invoice, etc.

Q: ring is/are categorized as open account credit?

A: Open account credit refers to a pre-approved loan between a lender/retailer and a borrower. This…

Q: Documents of credit appraisal for individual loan.

A: Credit appraisal basically refers to assessing a particular loan application or proposal in a…

Q: ence between yo

A: Introduction : In simple words, the ability of an individual to purchase a commodity with the intent…

Q: Internal sources of credit information t

A: Second option is wrong because financial statements are published and can be used as an external…