Question

PLEASE HELP ASAP!!! (There are 4 Questions)

Question 1: What is the term for a loan with a cosigner?

A): A guaranteed loan

B): A consignment loan

C): A contractual loan


Question 2: Which of the following should be considered last when searching for Financing?

A): Family Members

B): Banks

C): Credit Cards


Question 3: The federal gift tax applies to all gifts over.....

A): $2,000.

B): $10,000.

C): 14,000.


Question 4: What kind of loan protects businesses in case of emergency?

A): Automobile loan

B): line-of-credit loan

C): Inventory loan

Answer 1

$10,000 is wrong

Step-by-step explanation:

Answer 2

1. A guaranteed loan is a loan that a third party guarantees – or assumes the debt obligation for – in the event that the borrower defaults. If a co-signer is on the loan, if the main party defaults the co-signer becomes responsible for the loan.

2. I could ask family members as a last resort for financing.

3. The annual exclusion for 2014, 2015, 2016 and 2017 is $14,000. For 2018 and 2019, the annual exclusion is $15,000.

4. line of credit loan will help protect a business in case of emergency. It is an open loan that the business can draw from when it needs more money, and pay it back. Unlike installment loans, once the principal is paid the line stays open for use in the future without the need to reapply each time.