Finance

When making critical decisions about your healthcare preferences and treatment options near the end of life, two key documents play a central role: Advance Directives and Living Wills. These legal instruments empower individuals to outline their medical wishes and appoint healthcare agents to advocate for their interests when they cannot do so themselves. In this …

The key distinction between amortisation and capitalization is that amortisation describes allocating the cost of an intangible asset over time for accounting and tax purposes. In contrast, capitalization records an expense as an asset to be depreciated, amortised or evaluated for impairment. Amortization vs Capitalization The main difference between Amortization and capitalization is that amortisation …

Accounting and economics are two top choices for people considering a career in any financial discipline. The two paths have a lot of similarities but are inherently very different. It would help if you recognized the difference between these two disciplines, not only to decide on a career between the two disciplines but as a …

Estimating asset depreciation is a crucial component of accounting. It assists in determining their exact and correct value. This is also beneficial in methods such as taxation. Depreciation expense and accumulated depreciation are two types of depreciation that differ in several ways. It is critical to be aware of them just for accuracy. Accumulated Depreciation …

The concept of stockholding and investments offers comprehensive wealth management and financial advisory services, which help one make intelligent financial planning decisions. AMC and TER are related abbreviations for Stocks and Investments. In both cases, AMC and TER, several more fees are levied to investors and shareholders. Both abbreviations have their distinct characteristics. It refers …

Accounting has a central place to occupy, whether it is a common home, government, or a business enterprise. Accounting ensures the prevention of fraud and illegal practices and traces the losses well. Accounting concepts and conventions are two accounting principles based on which accounting happens.  Accounting Concept vs Accounting Convention The main difference between accounting …

Many countries or groups of people are impoverished as they cannot afford necessities like proper food or hygienic living conditions. However, poverty can be understood in two different types. The two main types are Absolute and Relative Poverty. There are many differences between the two. Absolute vs Relative Poverty The main difference between Absolute and …

An advisor and a broker might seem roughly the same for somebody with little financial knowledge. However, the roles performed by both of these are very different. It is important to know the difference for anybody starting with their financial journey. A Broker vs An Advisor The main difference between a broker and an advisor …

Trading has been a crucial and very popular method of financing for centuries. Trading has its benefits and some cons as well. However, today, trading has gained so much popularity that it is not just limited to a small level but also at a large scale level.  Now trading can be done globally, between multiple …

During the production of any product, it is important to know the manufacturing cost of each product. Costing helps the company in strategic and profitable decision-making. It is an important component in determining the total production costs of the product. Activity-Based Costing and Traditional Costing are one of the ways of costing in accounting. Activity-Based …

Accounting is a way of collecting and recording all kinds of transactions in one place. The phrase “profit” is a term mainly used in accounting. In business, if the amount spent to manufacture any product is less than the amount received from selling a product, it is called profit. Accounting vs Economic Profit The main …

Accounting and Finance are terms used interchangeably, but both confuse people. At the same time, both are related to the administration of an institution and an organization’s money and assets. It is important to know about both terms to evaluate a company’s financial health and organizations to make financial decisions. Accounting vs Finance The main …

Consumers these days rarely make payments with the traditional means of payment. These include paying through cash or signing a cheque to pay the seller of a commodity or service. Instead of these, digital and electronic transactions are the trends of the day. Two forms of digital transactions are Electronic Fund Cigarette (EFT) and Automated …

Any country or any individual needs economic support to start their business or provide funding for their projects. It also may be needed by any organization to develop its programs. To simplify this process, we need aid and grants followed by criteria to provide funding to those countries, individuals, or organizations who need it. Aid …

Exact Answer: 60 Days A credit charge can be defined as a charge, interest, or a kind of fine imposed on a credit transaction of goods or services. Credit charges are also applied by credit card companies to their customers who buy goods on credit. As credit cards provide instant money during emergencies, charges associated …

Exact Answer: 3 – 5 Business Days A pending transaction refers to a transaction that has not been completed successfully and is still pending. Typically, recent card transactions that have not been fully processed by the merchant are shown as pending transactions. In most circumstances, pending transaction payments get deducted from the payer’s account but …

Exact Answer: 30 To 45 Days Credit is approved with proper terms and conditions that can keep the lender satisfied that they will get back the money they have loaned to the loan seeker. These terms and conditions can be about many things like the payment schedule, the mode of payment, and many more. However, …

Exact Answer: 7 years After delinquency, the collection can stay on the credit for around 7 years. The credit reporting companies would remove or delete the collection from the credit. If the collection is not deleted from the credit after 7 years, then the person can raise a dispute against it. The collection would reduce …

Exact Answer: 2 days If the transaction is standard and can be verified by the bank, then the pending deposit can take around 2 days. The pending deposits with extremely large amounts would take more than 2 days. The type of bank and amount would affect the time length for processing a pending deposit. If …

Exact Answer: 3 days The bank transfer would take around 3 days depending on the type of bank. There are many types of financial organizations, and the bank transfer time may be different for each one of them. Sending funds to your friend and family could be easier if you try to do it during …

Exact Answer: 21 Days There is a lot to learn about finance and banking in this world. There are more than thousands of banks in the world and more branches. A person should know all about getting a job, getting paid, and keeping savings. When somebody starts earning money, the first thing they need to …

Exact Answer: Up To 16 Weeks An amended tax return is a tax return that one files to correct their original tax return information. For example, if one discovers that they made a mistake on their original tax return, one may need to file an amended tax return. This could be because the taxpayer made …

Exact Answer: Up to 21 Days Paypal is a platform that is used by business owners, buyers, sellers to receive or collect their payments. They sell their goods and products through an online mode. As per the protocols of the company, PayPal sometimes put money on hold to avoid disputes. These protocols are followed by …

Exact Answer: Within 24 hours Car Insurance providers accept reporting the accident within 24 hours of the accident. There are many conditions and circumstances due to which at times, it is not possible to report the accident within 24 hours. There are exceptions in these cases which can be reported even up to 2 weeks …

Exact Answer: 2 to 3 Weeks A mortgage application is an application sent to a financial institution for the mortgage of any asset. The person sending this application might need money and if they have an asset of that value, they can mortgage it with the financial institution. In this process, the applicant has to …

Exact Answer: 3 to 5 Days PayPal is a very popular means of conducting online transactions. A person can send and receive payments with the help of PayPal provided that they have a bank account, debit card, or credit card. It is a company operated by PayPal Holdings Inc. and was founded in San Jose, …

Exact Answer: One To Six Months A Credit score is scoring based on which a person can borrow money or take a loan from a bank or a financial institution. The ranking is almost standard in many states across the nation. The score between the range signifies different levels at which a person stands when …

Exact Answer: Up to 15 years The financing terms for an RV would not be the same for all the banks. There are many factors such as credits unions and finance companies that would influence the finance terms of RV. Generally, everyone can finance an RV for around 15 years or even more if the …

Exact Answer: 2 Years According to the Income-tax Act, 1961, every income applicable to tax should be shown under separate heads of incomes, like, income from salary, income from house property, income from capital gains, income from other sources, etc. Thus it is necessary to understand which income should be classified under which head of …

Exact Answer: 7 Years A credit report is a summary statement showing a detailed breakdown of a person’s past credit payments history as well as the current status of credit accounts. It reflects how efficiently the person in consideration has handled his credit bills, loans, and debts. Collections on a credit report mean the continuation …

Exact Answer: 48 Months To 72 Months If you are about to buy a used car or commonly known as secondhand cars or you are planning to buy then multiple checks should be performed regarding the car and another important factor, the budget as well. In many general cases, the buyers of second-hand cars opt …

Exact Answer: 21 Days Whenever a landlord charges the tenant a sum that is not the rent or its advance payment, the paid sum can be referred to as the security deposit. The deposit remains with the landlord from the period of the start of the tenant’s stay till they leave the landlord’s place. Security …

Exact Answer: 90 to 180 Days Powerball is one of the most acclaimed lottery games in the world. It is particularly popular in the United States of America and is available to play in 45 US states including the district of Columbia, Puerto Rico and US Virgin Islands. A Multi-state Lottery association is the nodal …

Exact Answer: 30 to 60 percent of the length of the marriage Alimony is a sum of money or a form of financial support that a person is required by law to give their spouse while separating or finalizing a divorce settlement. This is also known as settlement or maintenance money. The sum is calculated …

Exact Answer: Debts Due For At Least 6 Months The garnishment of wages is a process by which the creditors of a person can garnish a certain amount from the borrower’s paycheck. Such a process sets into motion on the orders of the judiciary or government authorities like the IRS. The employer of the creditor …

Exact Answer: 3 to 6 Years Writing off of the debt implies that the amount lent or spent on a project might never be returned to the firm. Usually, when a firm lends money or invests in a project, it does so to earn some profit on the investment being made or, at the least, …

Exact Answer: 7 years With several invoices to remember, it’s easy to overlook a payment. Late payment may not be a big concern if you detect it immediately away, but the longer your account is past due, the higher the risk to your credit it poses. Missed payments can be recorded on your credit report …

Exact Answer: 2 Weeks A credit card is a modern facility that allows the credit card holder to borrow a line of credit from the concerned credit card company for one’s purchases, payments, and other obligations. As credit cards enable the user of the service to avail credit money, the borrowed amount has to be …

Exact Answer: 7 – 10 Years A credit report, also sometimes called a credit file or credit history can be defined as a summary statement mentioning a detailed breakdown of one’s credit transactions. It is prepared by a recognized credit bureau. It gives thorough information about how the person to whom the report belongs has …

Exact Answer: 1-3 Weeks We know that it can be quite confusing for people to know the exact amount of time that balance transfers take. Well, depending on your card issuer, it could take up to six weeks for a balance transfer to appear in the account to which you’re transferring the balance.  While many …

Exact Answer: 3 Years It’s only normal to be concerned about an IRS audit, and the length of audit periods can be terrifying. If we look at some tax attorney, he keeps track of the length of your audit exposure if you hire them. Not just this, if you go for an accountant, he also …

Exact Answer: 5-6 Weeks  We all know how important it is for all of us to get a good job. It is quite clear that we study hard and do all we can with a common goal in mind. Everyone is interested in a different field or niche, but the amount of hard work that …

Exact Answer: 1 Year Bank and credit card statements arrive regularly, either by mail or electronically. Examining them is a vital part of keeping your finances in order. But most people are not sure about the amount of time for which they should retain those bank statements to keep them safe and that is what …

Exact Answer: 1 To 2 Months There are many vital things a person should know, like driving, insurance policies, paying bills and rent, and banking. Since the development of technology, many things have become very easy to do. In the early days, people used to run around doing errands and chores, but now, everything is …

Exact Answer: 2 Months There are many things to know about the world of employment. How to save up money, how to get a good job, how to rise from one’s position, and finally, about the famous “401k”. There is so much to learn about 401k accounts and funds before getting a job and after …

Exact Answer: 6 Years Debts are certainly a great pressure to anybody as time passes by. Some people would have been lucky enough to get debts without interest, but some get debts with minimal interest and others with a great level of interest, which sometimes in the end can become higher than the actual debt …

Exact Answer: 3 to 6 Years Business records refer to those documents which can be used for future references owing to any reasons. They may be books of accounts or just government certificates to the business organization regarding the conduction of their business duties. They can be summed as those instruments which record an act, …

Exact Answer: Five Weeks SBA, otherwise known as Small Business Administration offers loan services to small start-ups and organizations that are under the count of 500 employees. These loans are provided by the U.S Small Business Administration in association with the lending banks. SBA also offers loan assistance in cases of disaster ranging from civil …

Exact Answer: 1 to 2 Business Days To make bill payments faster and easier a financial institution was founded in 1997 name as BPAY. BPAY is a way to pay bills online. It is an electronic payment system that is mainly operated out of Australia. BPAY enables a person to make payment either by their …

Exact Answer: 15-30 Minutes Electronic transfers are a quick, easy way to move money between bank accounts. It is very convenient and fast to get things done. E-transfers can take up to 15-30 minutes to process, and the receiving bank may take an additional one to two days to credit the account sometimes.  In some …

Exact Answer: 14 Days Unemployment compensation is intended to assist employees who have lost their jobs with a temporary source of income. Unemployment compensation is given to people who’ve lost their jobs due to no mistake of their own. The unemployment compensation scheme is a joint venture between the federal government and the states. Employer taxes …

Exact Answer: 1-3 Days The Cash App, as the name suggests, is a money-transfer app. Cash App allows you to transfer and receive money instantly. Cash App can be used to pay rent, make donations, and even to give tips. Cash App can also be used to ask friends and family for money. If you …

Exact Answer: Until 2023 Until at least the next 2 years, interest rates are projected to stay low. The federal funds rate, which is the overnight borrowing rate for banks, will remain at zero, as per the chairman of the Federal Reserve, until inflation reaches 2% and “full employment” is achieved. For many years, the …

Exact Answer: Approximately Two Years COBRA is a commonly used acronym for The Consolidated Omnibus Budget Reconciliation Act of the United States of America. This facilitates the staying of an employee in their employer’s group insurance plan, even when they leave their job. This act gives the employees and their families the freedom to decide …

Exact Answer: Until 26 Years If a parent’s health insurance plan covers dependents, children are covered until age 26 under the Affordable Care Act (ACA). If the parent’s health care policy covers dependents, they must be covered until the child reaches age 26. Some states adhere to the Affordable Care Act’s age-26 rule, but others …

Exact Answer: 3 to 7 years In today’s economically growing globe, a car is both a need and a convenience for moving about the ever-expanding metropolis. Although not everyone has the financial means to buy a car at a time, various lending institutions can help you achieve your goal of owning a car through car …

Exact Answer: 9 to 18 digits A bank account is a type of financial account kept by a financial organization. The consumer can make deposits and withdrawals from his or her account. The functions, on the other hand, are dependent on the account’s type. During various banking tasks, banks provide many types of accounts. A …

Exact Answer: Up to 6 weeks A balance transfer is the transfer of one’s account balance to another account of the same kind or different. The term is most commonly used to describe a credit card balance transfer. In simple words, balance transfer can be described as the movement of balance from one credit card …

Exact Answer: 2-3 Weeks SBA or Small Business Administration is a United States agency that provides governmental support to small entrepreneurs and businesses. It works intending to maintain and strengthen the nation’s economy by establishing and viability of the small businesses in the recovery of communities after disasters. The agency works with 3’c that are …

Exact Answer: Up to 20 years Boat financing is very similar to financing a home or car. There are many things that have to be considered before financing a boat. The interest rate and the down payment would play a vital role in predicting how long someone can finance a boat. The boat financing is …

Exact Answer: Up to 1 year Improving the credit score would take around 12 months. If the credit score is low, then it can be increased with the correct approaches. Some reasons behind low or poor credit scores are problems in the credit report, payment track record, and errors in the CIBIL report. There are …

Exact Answer: Up to 7 years The lender would take away the assets of the borrower, such as vehicles and this state is called repossession. This condition would arise when the borrower fails to repay the loan taken from the lenders. The loan is given under various principles, and guidelines and this has to be …

Exact Answer: 7 – 10 Years People file for bankruptcy for a number of reasons, the most prevalent of which are financial hardships caused by unforeseen occurrences such as job loss and medical concerns. When filing for bankruptcy, it takes a long time for the credit to clear up and start afresh. However, regardless of …

Exact Answer: 10 Minutes Bitcoin mining, along with Ethereum mining, is one of the most sought-after cryptocurrency businesses for people looking to get rich quickly. Millions of bitcoin miners continue to purchase mining equipment and consume large quantities of power, drawing criticism for their negligence of climate change. Bitcoin has been on the rise since …

Exact Answer: A Month Raising children is not an easy task. Particularly, in case, if the child is being raised by a single parent. There are innumerable amounts of expenses to be covered ranging from issues like medical care, education, clothing and various other miscellaneous expenses. In such cases, tax intercepts are an instrumental tool …

Exact Answer: 6 to 12 months Everybody knows what they should do when they are alive. Some also plan what should happen after their deaths. When a person dies, they take nothing they earned, and with them, they leave everything to either their wards, spouses, or sometimes when one doesn’t have anybody to leave their …

Exact Answer: Up to 14 days The credit card could be approved instantly. It’s the time of arrival that the person has to wait for. A credit card would take around 14 days to arrive. The mode of application plays a huge role in predicting the time required for a credit card to get approved. …

Exact Answer: Till the Child Is 19 Years Old If a person is a citizen of any country, there are certain benefits that they can claim being a rightful citizen. The reason is that they belong to that country, and as per the laws, they get entitled to get assisted by the government. The reason …

Exact Time: 6 months You can’t expect the check to be good for more than 180 days. Before predicting how long do you have to cash a check, you have to look at the type of check it is. For example, the time for how long the personal checks are good for, will not be …

Exact Answer: 10 Days Benefits are offered by governments all around the world, though the benefits may differ according to the countries and many other factors. During pandemics and disasters, many people get unemployed, and there are some benefits that one can apply for to help them out during tough times. Not only during the …

Exact Answer: 36 Months A credit card is a type of payment card which is very common and used by almost everyone. These cards are issued to the cardholders by the banks in which they have accounts. Credit cards are used by cardholders to make payments to merchants. The merchant is the people who sell …

Exact Answer: 2 years There are things that every person requires to get through their day, and the most important thing of them all is money. Money is required to buy anything in the world. There are many ways to earn money, while some earn well so that they can save after spending for their …

Exact Answer: 18 Months COBRA (Consolidated Omnibus Budget Reconciliation Act) was launched in 1985. It was launched by the U.S Congress on the basis of the reconciliation act, which was signed by President Ronald Reagan. This insurance aims to provide all the employees with the services, and security of health insurance benefits to the person, …

Exact Time: Up to 7 years The late payments may stay on your credit reports for up to 7 years. Your credit score will be impacted to some extent if the late payment stays on your credit reports for a long time. Late payments will have a huge impact on your credit score, but you …

Exact Answer:45 Days Underwriting is the interaction through which an individual or foundation faces monetary danger challenges a charge. This danger most commonly implies credits, protection, or ventures. The term guarantor began from the act of having each daring person compose their name under the aggregate sum of hazard they were able to acknowledge for …

Exact Answer: 21 Days As everyone knows the effect of covid 19 on the world economy. Almost all the country’s economy is affected. Along with the country’s economy, billions of people throughout the world face various difficulties to sustain their families in the meantime. In the meantime, many social workers across the world try to …

Exact Answer: 3 Weeks Unemployment is the situation in which a person doesn’t have jobs or earning for their livelihood. In many countries, there are many unemployment benefits launched by the governments for job seekers for a duration of time. It is also called unemployment protection, unemployment installment, unemployment pay in different countries. The installments …

Exact Answer: 7 Days Refund is a very common word in the modern world with the increase of modern technologies and internet connections. The refunds are of many types like a Tax refunds, product refunds, and steam refunds. The refunds are initiated through the online mode directly in your bank accounts. Refund is an important …

Exact Answer : 2 to 8 days Shipping plays a vital role in the e-commerce industry for buying and selling goods over the internet. Some customer wants their items urgently, while others are satisfied with the speed that a product reaches them. Based on customer needs, different types of shipping are standard shipping and express …

Exact Answer: 7 – 10 Days Having a bank account has now become essential for almost every person. For withdrawing cash or for depositing one’s own money, bank accounts are necessary. In an era where everything is becoming cashless, bank transactions have become even more important than before. Due to the advent of tremendous changes …

Exact Answer: 30 To 45 Days Money is a very important source in a human’s life to live a healthy and prosperous life. Money is not everything, but it’s still an important thing to be considered. Without it, one cannot fulfill the basic needs and requirements of daily routine. Money is the only trustworthy and …

Exact Answer: 90 Days A mortgage pre-approval letter is a letter sent by the mortgage lender to a borrower. This letter primarily states the amount that the lender agrees to lend to the borrower and its underlying terms and conditions. In other words, it summarises the contract and all the facets of the agreement. This …

Exact Answer: 3 Days Direct deposits are the programmed electronic deposits of assets into a financial balance that replaces giving a check. It is a protected method to accept someone’s check and different advantages. At the point when they get reserves this way, their record balance consequently refreshes. With regards, getting compensated for their persistent …

Exact Answer: 2 to 45 Years Workers Comp is the term used for workers’ compensation. It is a type of insurance that provides medical benefits and wage replacements to the employees who are injured while working.  If any worker gets injured while working, then they are liable to get compensation via medical and other benefits.  …

Exact Answer: 2- 5 business days In general, it takes about two business days for a deposited check to clear. But sometimes it takes a little longer than usual about four to five business days for the banks to receive the funds. So, the withdrawal of the check highly depends upon the amount of the …

Exact Answer: About 4 To 9 Weeks Since time immemorial, in all ages, money has always been regarded as an important medium of exchange and a tool of payment. When we didn’t have a monetary system, we had a barter system which was used as the mode of payment. Over the years, money has transformed …

Exact Answer: 10 years Bankruptcy may be a legitimate process through which individuals or other entities who cannot reimburse obligations to lenders may look for alleviation from a few or all of their obligations. In most purviews, bankruptcy is forced by court order, started by the indebted person. Bankrupt isn’t the as it were a …

Exact Answer: 21 Days The Internal Revenue Service (IRS) is the income service of the United States government, which is dependable for collecting charges and regulating the Internal Revenue Code, the most important body of the government statutory that assess law. It is a portion of the Division of the Treasury and driven by the …

Exact Answer: 7 to 30 days Amazon is an American multinational conglomerate that centers on e-commerce, cloud computing, computerized streaming, and manufactured insights. It is one of the Huge Five companies within the U.S. information technology industry, at the side of Google, Apple, Microsoft, and Facebook. The company has been alluded to as “one of …

Exact Answer: 6 Months A check is a well-composed, dated, and most importantly precisely marked instrument that helps a bank pay a specific amount of money to the bearer. The individual or element composing the check is the payor or cabinet, while the individual to whom the check is composed is called the payee. The …

Exact Answer: 5 months The period for the completion of the Budget Reconciliation Process extended from 27 days for the Omnibus Budget Reconciliation Act of 1990, 384 days for the Tax Increase Prevention and Reconciliation Act of 2005. The entire process of the budget reconciliation takes on an average of 155 days ( 5 months). …

Exact Answer: 21 Days When the taxpayer pays his taxes more than what is due, a need for a federal tax refund arises. A refund or rebate of taxes is made to compensate the taxpayer for the excess of tax paid by him. In some countries, a small amount of interest is also paid along …

Exact Answer: 20 to 45 Days An income tax return may be a form or form that’s filed with a tax professional’s assistance that reports income, expenses, and other relevant tax information. Tax returns allow the taxpayers to calculate their liabilities, schedule tax payments, or request refunds for the overpayment of taxes. In many countries, …

Exact Answer: 20 Days Sometimes, an individual may end up paying more income tax than they are liable to pay. In such situations, the government refunds any excess amount paid. This money received from the federal government is called an income tax refund.  One may obtain the tax refund in around 20 days, but the …

Exact Answer: 2 Business Days Whether it’s about depositing or withdrawing cash or taking loans, people come to the bank to deal with it. Banks help needy people in improving their financial problems. Even though it has been made easier to transfer funds through smartphones, in reality, it may take days for the money to …

Exact Answer: 12 – 23 Weeks The state of Florida administers unemployment benefits for its citizens. The benefits are governed by the Reemployment Assistance Program through the Florida Department of Economic Opportunity. The Reemployment Assistance Program provides temporary and partial wage replacement for qualified workers who have become unemployed through no actual fault of their …

Exact Answer: 3 Years Nearly one-third of American students are opting for student loans deferment to pay out their education fees. Because during the deferment period the government takes the whole duty to pay the student fees and this deferment is more of a temporary postponement of interest repayments by the students. How Long are …

Exact Answer: 1-3 Weeks A tax refund is the money you get back when you pay more taxes to your state government that or the federal government. Through the payroll withholding, the government cuts a check for the amount that has been overpaid by you. Filers who overpay their taxes during a particular financial year …

Exact Answer: Up to 30 Days Paypal is renowned for its quick and easy money transfer functioning. You can request or send money to your family and friends abroad just by using your Paypal application. The working structure of Paypal is extremely smooth with many safety provisions to secure your payments. People can always ask …

Exact Answer : 3 to 6 Months The banking world is so huge across the different countries. Every country has its norms for every sphere of the banking world. Now, a check is something that is mostly used for both personal and professional work. The validity parameter varies from one to another for personal, business, …

Exact Answer: 1 Year A bank is a financial institute that is present in every country, every state, and every district. They accept all your deposits in the form of money creating demand deposits by the public and providing them different types of loans. Banks provide many types of loans like personal loans, housing loans, …

Exact Answer: At Least 30 Years Figuring out exactly how many years one’s money will last is not an exact science. Many unforeseen factors can influence this decision like inflation rate, return on investment, sudden expenses, etc. All these factors can directly or indirectly dramatically affect the longevity of one’s money in savings. Several calculators …

Exact Answer: 30 to 60 Days The population of the world has reached almost 8 billion. People are crowding on the Earth. With the increase in the number of people, demand for basic needs also increases.  House, water, air, and food are the essential needs that a person needs to settle. Out of these four …

Exact Answer: About 21 Days The Internal Revenue Service (IRS) is the revenue service of the United States federal government. It is responsible for collecting taxes from U.S. citizens and administering the Internal Revenue Code. It is the main body of the federal statutory tax law. The duties of the IRS include providing tax assistance …

Exact Answer: 3 Weeks Careers choices are getting broader every day. There are many beneficial claims for every job. Many situations increase the number of unemployment. Natural disasters, and many other issues can cause unemployment on a great scale. In recent years, unemployment policies were implemented, which helped in building the economy of a country, …

Exact Answer: Three Weeks Just like people get jobs in a minute, they can lose the job in seconds. There can be various reasons why one loses a job. Incompetence, the closing of offices, natural disasters and much more. Unemployment can be really hard on certain people, who are not financially stable. That is where …

Exact Answer :  5 – 21days EIDL stands for Economic Injury Disaster Loan. EIDL majorly helps small businesses and non-profit organizations. The SBA’s EIDL program gives financial assistance to the developing small businesses to install themselves. It is a low interest federal loan that is used for to pay fixed debts, payroll, bills, rents, utilities …

Exact Answer: 26 weeks Careers are very important for anyone in the world. There are different types of careers in the world that stabilize the economy. Some careers are more widespread than others. Whatever the career may be, employers want the best in their fields. Among many things that happen during the entire period of …

Exact Answer: 7 Years Tax reporting means tax returns, tax return working papers, documents relating to any tax dispute, and any other ledger or records that must be kept in accordance with applicable tax laws or any accounting agreement with any financial authority. Record keeping can seem tedious and cumbersome. Create an accounting system that …

Exact Answer: 70 Years to 80 Years. This figure mentioned above is not about one or two million dollars, but it is a massive amount of ten million dollars. This is a hefty amount. At times some people dream for it, and some get their hands on it in real life. This is the amount …

Exact Answer: 7 Years According to the Income Tax Act of 1961, everybody whose general every year earnings is above a particular threshold is obligated to pay earnings tax. Tax submitting is the technique of calculating a tax due, growing a tax go back, and filing the finished go back to the Internal Revenue Service. …

Exact Answer: 19 Years A million dollars might seem like a lot of money to some people, but it doesn’t last long. After taxes, the average person will only have $500k left in their account after 30 years. That means they’ll need to make up for lost income and inflation – about an extra $1.5M …

Exact Answer: After 7 years Tax is a mandatory payment to the nation’s government without any consideration. Without any consideration means we cannot demand anything from the government after paying tax. Taxation is necessary to run a nation with good judgment. It is collected for providing public, best infrastructure, and facilities.  It doesn’t matter whether …

Exact Answer: After 26 weeks Unemployment benefits are also known as unemployment insurance and sometimes also known as unemployment compensation. It is financial help from the government to the unemployed. The unemployment benefits are only for those who registered themselves as unemployed.  Under this benefit or compensation, a temporary income will be given to the …

Exact Answer: 6 years IVA (Individual Voluntary Arrangement) is a formals way to avoid bankruptcy in tough situations. It is an agreement between you and your creditors who lend money to you by keeping a guaranty with them to make sure that you are not a fraud. This can be anything your car, your property, …

Exact Answer: 60 Days If a person is self-employed then he/she is dominant compared to the other unemployed person, but there are certain times where a human wants to stand on his/her own but due to the financial conditions of his/her family, he/she is unable to. The government and the responsible authorities introduce some of …

Exact Answer: 90 to 180 days IPO is an abbreviation that connotes the initial public listing of a company’s shares. It essentially means that the company in question has decided to list its stocks on the public market forum of the country. It is done to arrange capital from public investors. When a private company …

Exact Answer: Up to 2 weeks PUA is the shortened version of Pandemic Unemployment Assistance. As the name suggests, this is a program that aims to aid those who have been affected by the COVID-19 pandemic. Millions worldwide have been subjected to financial problems since the COVID-19 pandemic began. PUA is essentially an extension of …

Exact Answer: After 9 months The date by which the company’s accounting period is going to end is known as the ‘Year end’ of a Company. It also includes the same date when the time starts ticking around to send some of the documents to HMRC and Companies house.  Sometimes what happens with the people …

Exact Answer: 6 Months One should wait for 6 months so that they can change their jobs. Waiting for such time will not harm you because you might have waited enough for getting GC. To obtain the green card according to U.S lawful permanent resident status an employee can avail it through an employment-based category. …

Exact Answer: 120 Days An FHA appraisal is done so that to check you can qualify for an FHA loan. An FHA appraisal is not at all similar to FHA inspection because in the case of an FHA appraisal things like structural soundness and safety will be checked. If your home has been checked by …

Exact Answer: After 30 – 45 days  The transaction of money has always been a sizzling topic for everyone, especially when that transaction is online or in other words, through e-mediums. Even though most of the transactions in modern times are done online, still a few people hesitate about it and that’s where questions arise.  …

Exact Answer: After 21 to 22 days EIDL is a type of loan set by SBA. Organizations like small cooperative houses, some private-sector unions, and secondary companies are eligible for this loan scheme. This is because if they suffered or have been located in any declared disaster area with a substantial economic disaster. SBA helps …

Exact Answer: Two Days Most people want to work in the corporate sector, and it is not easy to get a job directly into a company. Companies have made strict policies about recruiting and selection processes to get the best candidates, thus helping the company grow and earn profits. But it is also noticed that …

Exact Answer: Three Months In Queensland, Australia, citizens who own a motor vehicle are supposed to register their vehicle with the government. This registration is done through the number plate and other details of the car and its owner. Everyone must have their motor vehicle registered by the government of Queensland. However, the vehicle registration …

Exact Answer: After One Day Unemployment is a severe issue in people’s day-to-day life. The whole standard of living of a person collapses when there is unemployment. There are different types of unemployment. People can fall sick, take maternity leave and adoption leave. Due to their taking leaves, they become unemployed for that specific period. …

Exact Answer: 7-28 days Buying a new home can be very stressful as it follows a very structured process that involves many documents. Once you’ve set your eyes on a home and have contacted the seller. Once you’ve been accepted, the first step is to sign contracts and exchange them. The exchange of contracts was …

Exact Answer: After 3 weeks A midwestern state of the United States, bordering Indiana in the east and the Mississippi River in the west, is Illinois. And it hardly takes 2 to 3 days after the certification for benefits, and then the payments are easily done through your debit card or direct deposit. The easy …

Exact Answer: Two Months Health issues are a severe issue in people’s day-to-day life. The whole standard of living of a person collapses when there is an injury. There are different reasons for a person to take workers compensation. People can fall sick, take maternity leave and adoption leave. Due to their taking leaves, they …

Exact Answer: After two to four weeks Today, an appraisal is a standard and minimum requirement for all mortgages. An FHA appraiser will overview the property, inspect it and prepare the report based on the investigation. The property should meet the criteria fixed by HUD. The same conditions apply to the newly constructed building too. …

Exact Answer: After 8 to12 months A will is a legitimate and valid document that conveys one person’s desires as to how their property is to be managed and also to be distributed after their death until the ultimate distribution. Yet, it has at times been believed that a will is historically applied just to …

Exact Answer: Within 10 To 15 days There are some benefits which everyone should enjoy as a normal human being. Everyone should have equality and everyone should have a right to it. The same thing applies to the benefits provided to the people, both of which are employed and unemployed in the States.  The authorized …

Exact Answer: After 14 days  The table called life always keeps turning and one cannot predict the exact kind of fold lying in the future course of time. People are busy surpassing all the odds no matter what by taking any road possible and anything they can. All these hustles divert our attention from the …

Exact Answer: After Every 45 Days Maintaining a proper credit score and taking a balanced eye on every market is a must for a businessman to carry on the market. There are several markets available at this present time, and it becomes quite a tough job to keep a hawk-eye on every market. Hence, there …

Exact Answer: Up To 9 Weeks The Internal Revenue Service (IRS) aims to process most returns within 24 hours of receipt, but it can take up to three or nine for a tax refund after identity verification. The IRS advises that if you expect a return and have not received your funds, you should first …

Exact Answer: 5 Months In the United States of America, there is a program under which the government provides medical, financial, and other kinds of services to those people who have any disability. This happens under Social Security Disability Insurance Program also known as SSDI. If one has any disability and is insured under this …

Exact Answer: At least 8 weeks The Department for Work and Pensions (DWP) issues an assessment that tests your capability in work, once you claim ESA, which stands for Employment and Support Allowance. This assessment is to observe and assess how your health condition or disability impacts your daily life and everyday activities. The ESA …

Exact Answer: After 4 to 6 weeks National Council Licensure Examination, known as NCLEX, contains two tests to practice as a standardized nurse either as an LPN or as RN. It is necessary to pursue a respective nursing degree and any of the NCLEX exams to receive the license to practice.  The NCLEX exam tests …

Exact Answer: Up to 3 Months The Social Security Administration in the United States of America provides financial help to those who are in need. The people of the United States can register themselves under Supplemental Security Income and get financial assistance from the government. The Supplemental Security Scheme provides financial help to old, blind, …

Exact Answer: One Week Unemployment is a severe issue in people’s day-to-day life. The whole standard of living of a person collapses when there is unemployment. There are different types of unemployment. People can fall sick, take maternity leave and adoption leave. Due to their taking leaves, they become unemployed for that specific period. So …

Exact Answer: Two Months An SBA loan, which stands for Small Business Administration loan, is essentially a property issued by an SBA-approved lender and insured by the Small Business Administration. These SBA-approved lenders can be SBA-approved banks and lending institutions that will decide whether the borrower is eligible for the loan. These loans are better suited …

Exact Answer: 3 Years Today with the ever-growing economy, people have started holding real estate in houses, condos, and corporate buildings, which then add to the asset’s status of an individual most people get these properties on mortgage or loans. These loans are financed by financial institutes where the lender pays the amount with a …

Exact Answer: Immediately Today the most developed nations have realized the potential of their human resources, since humans are capable are transforming anything into what they desire using technology and minds. Developed countries like the USA have started emphasizing the labor laws and giving them more benefits one of them being the FMLA Act, 1993 …

Exact Answer: 48 hours to 10 days The EDD or Employment Development Department is a division of the US government in California that deals with providing various services and benefits to businesses, unemployed citizens, and workers. In addition, there are many administrations under the EDD that handle Paid Family Leave programs, Unemployment Insurance, and Disability …

Exact Answer: After 7 to 10 years When a certain organization is not able to honor or pay off the financial obligations or is not able to pay back to its credit lenders, then without any option left it files for bankruptcy. A petition is being filed in the court for the issue of bankruptcy …

Exact Answer: After 45 – 60 days After a reward is processed with retired pay concerned, it takes DFAS 45-60 days to produce the audit work to VA that informs them what quantity of the antecedently withheld funds to unharness back to you. Thankfully, the discharge of these funds has been machine-controlled, thus once DFAS …

Exact Answer: After 12 Weeks Health is one of those factors which comes under the most priority sectors in human life. If one’s health is not well and good, then one is not going to serve his duty regularly. But what if health comes in between your duty. To get leave and get medicated to …

Exact Answer: 30-45 Days A home equity loan is a kind of loan that most people prefer to borrow so that to use their home’s equity as collateral. It is then the loan amount that is determined by looking or screening the value of the property that is done by an appraiser from a lending …

Exact Answer: 30 To 40 Days An escrow agreement is a contract that has all the terms and conditions of a transaction in real estate, as well as each party’s responsibilities. Escrow agreements involve an independent third party, known as an escrow agent, who holds a valuable asset until the contract’s terms are met. They …

Exact Answer: Within 21 days People who live in the United States and pay taxes receive a certain amount of money from the US government in the form of a stimulus check. The reason for the distribution of stimulus checks is to drive the economy by increasing consumption and thus resulting in a rise in …

Exact Answer: 4 days eBay is a shopping website that can be accessed online. It is one of the most famous e-commerce marketplaces out in the digital world. It is most known for its consumer-to-consumer selling and online auctions. Online merchants use this site to sell their products successfully. eBay is available in various countries …

Exact Answer: After 90 to 100 Days FHA which stands for Federal Housing administration insures mortgage loans, which are also known as FHA loans. According to Willow, in between the early to late 1930s as a part of the government’s response to foreclosures and defaults, FHA loans were first introduced and got implemented. It was …

Exact Answer: Four To Six Months Money is one of the most important tools for conducting our daily business. Similarly, without money, people cannot live in today’s market. Money is what money does, whether the money has been lent from someone or the income of a person. You need some time, and you need to …

Exact Answer: Seven Days An appraisal is a financial term that means to determine the value of a property or land. In simpler terms, it is known as property valuation or sometimes land valuation. This is done by real state agencies or landowners who want to buy a new property. Home inspection means inspecting a …

Exact Answer: After Two Weeks Getting a job these days is difficult for an individual. So is finding a suitable candidate for the vacant position who is actually interested in the job position. Once a candidate successfully clears all the hiring rounds, they receive an offer letter. A job offer is a kind of a letter which …

Exact Answer: 6-9 Months Death is uncertain and when a person passes away it is the responsibility of the deceased person’s family members to take care of his belongings and all other affairs. If the deceased person has left a lot of possessions then there has to be a will that the deceased person might …

Exact Answer: Three Months EEOC stands for Equal Employment Opportunity Commission. This is an agency situated in the United States and was established under the act of civil rights in the year 1964. It is a law made for the employees working in different sectors. This act allows people from any caste, creed, gender, or …

Exact Answer: Within A Month Efile is a term used to refer to the documents submitted to the IRS or Income Revenue Service department of the United States. This department looks over the working of taxes paid by the country’s citizens and makes sure that all the work is done correctly. A citizen needs to …

Exact Answer: Three Weeks EDD stands for Employment Development Department, and this department is located in California in the United States. It is responsible for employing many citizens of the country. In addition, it provides employees to many business companies and works as a two-way beneficiary for the companies and the workers. The department was …

Exact Answer: Within A Week CQC stands for Care Quality Commission, and it is a public department of the United Kingdom formed by the UK government to ensure the quality of health care provided in the country. The commission was established in 2009 and looks after the social services and health activities taking place in …

Exact Answer: Three Weeks ESA stands for Employment and Support Allowance. It is a welfare department situated in the UK responsible for paying monetary benefits to young citizens of the United Kingdom. They are unable to find work due to their physical or social condition. The candidates are provided support by the department. The department …

Exact Answer: 55 to 65 Years Million Dollars a hefty amount. Sometimes a person dreams for it and sometimes he gets it in real. Mainly it’s an amount people receive after they retire, basically in states. But this question arises, how long a person can sustain it. Because in states a person does not receive …

Exact Answer: At Most Seven Years DUI stands for Drinking Under the Influence. These are when a driver is caught driving under the influence of alcohol or any other drugs. It is a crime and is also illegal in all countries. It is a punishable offense, and if a driver is caught in this condition, …

Exact Answer: Ten Days EDD stands for Employment Development Department, and this department is located in California in the United States. It is responsible for employing many citizens of the country. In addition, it provides employees to many business companies and works as a two-way beneficiary for the companies and the workers. The department was …

Exact Answer: Two Years FHA is a shorthand for a government agency named the Federal Housing Administration of the United States. This agency was founded as a part of the National Housing Act passed in the year 1934. The agency was founded by the then-president of the United States, Franklin Delano Roosevelt. The agency’s main …

Exact Answer: Within 120 Days Filing is a term used to refer to the documents submitted to the IRS or Income Revenue Service department of the United States. This department looks over the working of taxes paid by the country’s citizens and makes sure that all the work is done correctly. A citizen needs to …

Exact Answer: 28 days Authority to Exchange or ATE is a part of the Help to Buy scheme of mortgage loan providers that aids home seekers find financing for their dream homes. This equity loan scheme allows buyers to borrow up to 20% of their property purchase price. After consulting one’s financial advisor, an individual …

Exact Answer: Up to 4 years BK is a shorthand abbreviation commonly used to connote bankruptcy. Bankruptcy refers to a legal provision that helps those who are unable to repay their creditors. It is a form of a fresh financial start that is granted to the individual filing for the bk. A conventional loan, on …

Exact Answer: After about 6 months It’s truly said that “When money speaks, nobody checks the grammar.” The statement transparently articulates that money is prevailing in modern times. So, as per an individual’s status, the bank tries to lend a hand when possible. Banks consider the whole background and condition of an individual or a …

Exact Time: Can be more or less than 5 years Brexit is a word that is being formed by Britain and exit. If you are a UK citizen and have a long desire to work in EU countries, there are some employment rules that each one has to abide by. One is which country receives …

Exact Answer: Two Weeks EDD stands for Employment Development Department, and this department is located in California in the United States. It is responsible for employing many citizens of the country. In addition, it provides employees to many business companies and works as a two-way beneficiary for the companies and the workers. The department was …

Exact Answer: AAA Basic Membership Can Immediately Be Used After Joining The American Automobile Association (AAA) is an organization that provides roadside assistance for people. They have three main membership plans. They are basic or standard membership, plus membership and premium membership. Each membership plan has its benefits. The prices of each membership plan vary …

Exact Answer: After Two Years Bankruptcy is a term used to refer to a condition in which individuals who cannot pay their debts and previous loans seek relief by giving some of their goods and entities and are not asked to pay all the debts. Judges mainly impose bankruptcy in a court order, and the debtor …

Exact Answer: Up To Six Years DMP is a shorthand used to connote a Debt Management Plan. A credit counseling agency sets up a DMP to help debtors consolidate their borrowed funds. Usually, those debtors who are unable to pay back the sum borrowed enter into a DMP. Each month the individual makes payments to …

Exact Answer: Within Two Months EOI is the short form of the term Expression Of Interest, also popularly known as Invitation To Tender. It is a document required for a candidate to show interest in working for a company or under an employer. If a person doesn’t have an EOI, his chances of getting the …

Exact Answer: After One Week EI stands for Employment Insurance, and it is a type of insurance given to the employee working in an organization. This type of insurance is provided to help the worker from some financial problems. The EI provides short-term help financial help to those who are employed but are unable to work due …

Exact Answer: Within Thirty Days The statutory provisions of the United States postulate the need for a valid car title. This document proves the legal ownership of the vehicle and permits the owner to drive it in the country. The title of the vehicle must be registered with the DMV agency of the country for …

Exact Answer: Up To Six Years DMP is a shorthand used to connote a Debt Management Plan. A credit counseling agency sets up a DMP to help debtors consolidate their borrowed funds. Usually, those debtors who are unable to pay back the sum borrowed enter into a DMP. Each month the individual makes payments to …

Exact Answer: After Two Years Bankruptcy is a term used to refer to a condition in which individuals who cannot pay their debts and previous loans seek relief by giving some of their goods and entities and are not asked to pay all the debts. Judges mainly impose bankruptcy in a court order, and the debtor …

Exact Answer: 15 Minutes Money is a very important factor in this world and it has been since it was discovered. People need money for a lot of purposes. Some people have more money while some people have comparatively less money. Everyone uses that money according to their means of livelihood. Going for a vacation, …

Exact Answer: 7 Months During the lifetime of a person, he or she passes through several phases. Starting from when they were infant to childhood, then teenager, then an adult and at last old age. They experience a lot of things while growing and come to a better understanding of the world. After completing their …

Exact Answer: Six weeks An auction could take place in a rapid manner, where it is very much important to agree with your respective agent for the fore-coming processes on the auction day. According to the law, it is necessary to display documentation before 30 minutes to auction. The process of buying land or a …

Exact Answer: After about 1-2 weeks Most we wish to own a luxurious house, luxurious cars, and other such lucrative things. However, we don’t have any source of income that could readily fetch us the required amount of money. Sometimes, it even happens that our money has exhausted while dreaming of owning such luxurious things. …

Exact Answer: After 8-10 weeks House or property is the biggest investment a person does in his / her life. The decision of doing so, itself takes so much to think deeply over it. But once you decided to go for such a decision then it will be a huge investment. You may get a …

Exact Answer: After about 2 to 3 days Amazon is a company based in, Seattle, America. It is an e-commerce site that has been one of the big five industries in America. Apart from all other materials, garments, electronics, Amazon has even expanded its base to other fields like informative technology and others. It has …

Exact Answer: Six Years The banking sector is one of the fastest-growing sectors all over the world. Government, as well as private banks, have been set up in different parts of the world. Banks have a lot of significance, and one of the primary significance is that they can help people by giving them loans. …

Exact Answer: Up To Six Months ATF stands for trustee for, and this is a person who is a supporter of someone taking a loan from the bank. It is necessary to name a trustee so that if the person who has taken the loan cannot repay it, it is taken from the trustee. A …

Exact Answer: Two To Three Weeks A house or a property is something that in today’s world is considered a luxury. Many families live in a rented house that shows that not everyone has land of their own. Currently, the world is filled with competitors, and if you didn’t buy a house when it was …

Exact Answer: After about 6 to 10 business days In today’s hustle-bustle world, we hardly have time for getting our essentials and shopping done from the market. Although some people manage to spare some time on weekends for this, some prefer to spend their leisure time at home and still get their shopping done by …

Exact Answer: Three Years LPN is a term used to refer to licensed practical nurses in parts of Canada and the United States. Their main job is to take care of all the patients and make sure that they get their medicines and injection shots at the right time. They also need to inform the …

Exact Answer: Within A Month LMIA stands for Labor Market Impact Assessment. It is a type of document required in Canada that an employer must have to hire a worker from another country in its organization. It is required to make sure the worker is an authorized person. Before getting eligible for the permit, one …

Exact Answer: Immediately  With today’s growing scenario and a need for skilled labor or educated labor in the new company, people have to be located to different cities where these companies have established there upfront or to the cities with new opportunities. Having a place to live is very important, and people cannot buy properties …

Exact Answer: 12 months to 2 years An individual may file for bankruptcy when he or she is unable to repay the creditors. When a person or organization is under the overwhelming pressure of repaying debt obligations to a number of different creditors, he or she may have to opt for the legal process of …

Exact Answer- It can take up to 50 days For those who do not have any idea of what a mortgage is it is a type of loan from a bank or from any other financial institution. Now, such loans are mostly taken so that the borrower can purchase a home or any other valuable …

Exact Answer: One Week JSA is a short form for the term Job Safety Analysis. The entire process of applying for JSA is quite detailed and multilayered. Each candidate must undergo a rigorous and grueling interview process to be finally selected in their respective field. Favorably with the provider of his or her choice. After …

Exact Answer: At Least One Year BK stands for bankruptcy, and it is a term used by professionals to describe the procedure followed by federal courts to assist individuals in getting rid of the heavy burden of bank loans and debt. At first, the person is suggested to sell away his possessions and repay the …

Exact Answer: One Month An auction is referred to as selling and buying various goods and services offered to the bidders. The bidders start bidding from an initial price, and the one who makes the highest bid wins the auction. Auctions are sometimes organized to sell priceless things such as a t-shirt signed by a …

Exact Answer: 2 weeks after the decision DLA refers to Disability Living Allowance. It is a sum of money paid to parents or guardians of kids who are living with disabilities. According to the 2016 statutory revision, DLA is paid for children under the age of 16. It is used by the guardian to finance …

Exact Answer: 3 years DMP is a shorthand used to connote a Debt Management Plan. A credit counseling agency sets up a DMP to help debtors consolidate their borrowed funds. Usually, those debtors who are unable to pay back the sum borrowed, enter into a DMP. Each month the individual makes payments to the agency, …

Exact Answer: 36 months Cobra means Consolidated Omnibus Budget Reconciliation Act. It gives health benefits even after losing the job or reducing the working hours and so on. For cobra, your first action should be to contact your HR and if this doesn’t work or some reasons you can’t able do this then you have …

Exact Answer: 5 Days The term justice is very important in the modern world. It holds a high place in society. Continent, country, people, culture, religion, etc., can be different by the meaning of justice remains the same for every single person in this world. A person can be punished if he or she has …

Exact Answer: Two To Three Months Bankruptcy is a term used to refer to a condition in which individuals who are unable to pay their debts and previous loans seek relief by giving some of their goods and entities and are not asked to pay all the debts. Judges mainly impose bankruptcy in a court …

Exact Answer: One To Two Weeks BMW stands for Bayerische Motoren Werke, and it is a multinational corporation of Germany which is famous for producing luxury motorcycles and vehicles. The company was first established in 1916 and started manufacturing aircraft engines. It produced aircraft engines from 1917 to 1918 and once more from 1933 to …