The bank may require other forms of collateral security for bank loans. These may include O 1. a guarantee by a third party O 2. a real estate mortgage 3. an assignment of book debts 4. a chattel mortgage 5. all of the above

The bank may require other forms of collateral security for bank loans. These may include O 1. a guarantee by a third party O 2. a real estate mortgage 3. an assignment of book debts 4. a chattel mortgage 5. all of the above

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter17: Accounting For Notes And Interest

Section: Chapter Questions

Problem 12RQ: When a business borrows money from a bank on a non-interest-bearing note, how are the bank discount...

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

The bank may require other forms of collateral security for bank loans. These may include
O 1. a guarantee by a third party
O 2. a real estate mortgage
O 3. an assignment of book debts
4. a chattel mortgage
5. all of the above

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