Maryann Lawrence Wants to Get a Loan in Just Her

question 172

Multiple Choice

Maryann Lawrence wants to get a loan in just her name.She knows the creditor cannot:

• A)refuse her credit if she is creditworthy.
• B)consider income from her part-time job.
• C)consider the payment history of all her joint accounts.
• D)consider alimony payments she receives from her ex-husband.
• E)consider child support payments she receives from her ex-husband.

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Definitions:

New Business Location

The process or event of opening or moving a business to a new geographical area or premises.

Other Income/Expense

Non-operational revenue or costs that are not related to the primary activities of a business, such as gains or losses from investments.

Loss

A situation where business expenses exceed revenues, resulting in a negative net income.

Disposal of Asset

The process of selling, scrapping, or otherwise disposing of a company's asset.