Merits and drawbacks of credit rating
Write down the merits and drawbacks of credit rating?
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The merits and drawbacks of credit rating are illustrated below:- i) People with superior credit will have their capability enhanced for the borrowing. Lenders will be capable to rewarded or punished by the people with their reports on the practices of their credit responsibility ii) The drawbacks can take place when the credit information that is been reported or when the characteristics of the consumer's is stolen. It is actually hard for the lenders to get the information if it is lost or it is very hard and strenuous process.
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The following information is taken from the financial statements of an entity: 20x6 20x5 Property, plant and equipment $4,100,000 $3,600,000 Accumulated depreciation (1,400,000) (1,050,000) Depreciation expense 650,000 Gain on disposal of PPE 35,000 The asset disposed of had a cost of $400,000
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