A Lender Can Legally Discriminate in Granting Credit Based on

question 61

Multiple Choice

A lender can legally discriminate in granting credit based on

• A)age.
• B)credit history.
• C)marital status.
• D)gender.

Evaluate the impact of inventory costing methods on financial statements under varying cost conditions.

Understand the fundamental principles of inventory management and controls.

Understand the concept of inventory valuation and its implications on financial reporting.

Calculate the inventory costs and valuation using different inventory costing methods.

---

Definitions:

Reallocation

denotes the process of distributing or assigning resources, roles, or tasks differently in response to changes in conditions, preferences, or objectives.

Demand for Land

The demand for land refers to the desire, backed by purchasing power, for the use of land resources for residential, commercial, or agricultural purposes.

Perfectly Elastic

Describes a situation in which the quantity demanded or supplied changes infinitely with even the smallest change in price.

Perfectly Inelastic

A situation where the demand or supply for a good does not change in response to changes in price.