0
Add your answer:
Earn +20 pts
Which of these is an example of a fixed expense?
Rent food car payment electric bill
What is an expected expense in a budget that remains constant?
An expected expense in a budget that remains constant is called a fixed expense. This means the cost stays the same each month, such as rent or a car payment.
How do you record in your accounting system the transaction of buying a car on credit?
Debit full price of car to Vehicles (fixed asset account) Debit Other Taxes expense for the registration fees Credit Loan Payable (liability account) for the total amount borrowed (not the total of the loan payments, just the principal) Credit Cash for any down payment
Is car insurance included in the debt-to-income ratio calculation?
Car insurance is typically not included in the debt-to-income ratio calculation because it is considered a variable expense rather than a fixed debt obligation.
Does liability insurance get you money for a car if your car is totaled?
The other parties liability should if it was their fault. Your liability should cover the vehicle you damaged.
Where can one purchase car insurance liability?
You can purchase car liability insurance from the same company you get your regular car insurance from. If you are a new car insurance customer, ask your agent to add liability insurance to your plan.
What are two types of car liability insurance?
Bodily injury liability and property damage liability.
What can you do if you cant make your car payment and any future payments?
what can you do when you cant make a car payment what can you do when you cant make a car payment
Do you need a car to get liability insurance?
Automobile Liability insurance, YES. Liability insurance, NO. There are many kinds of liability insurance.
Do you have to own a car to have liability insurance?
It sorta makes sense that you would own a car. If you do not own a car why would you want liability insurance?
How far do you have to be behind on a car payment before your car is repo?
2 payment
Does the car insurance pay the debt when the owner dies?
Normal car insurance Liability, Collision, & Comprehensive will not pay off the loan. You would need to get the proper insurance for this purpose. Either life insurance or insurance for the purpose of loan payment.
