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Mr and Mrs X applied for a low doc loan from a financial service provider (FSP) to refinance an existing loan and to obtain additional finance of $200,000 to assist them to purchase another property. Mr and Mrs X disclosed in their application: partnership income of $400,000, rental income of $40,000 and a parenting allowance of $20,000. The FSP approved their loan based on their income as disclosed in the application and their declaration that the loan was within their ability and capacity to service. The FSP did not make any independent enquiries to verify the application information.
Problem 1: Identify and explain 2 duty of care considerations the FSP should have displayed in assessing the applicants' capacity.
Examine Apples statement of cash flows - actions that Apple could take in order to maximize the use of its cash flows. Provide a rationale for your response
the following information is available for pension plan of kiley company for the year 2010.actual and expected return
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20-year annuity of $250,000, with the first payment coming one year from today. What rate of return is built into the annuity? Disregard taxes.
When accounting for property, plant and equipment the cost of the item is only recognised as an asset if the replacement value of the asset can be ascertained
Jo Publishing Company specialises in printing specialty textbooks for a small but profitable university market. Due to the high set-up costs for each batch printed, Jo Publishing holds the book requests until demand for a book is approximately 500. W..
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