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- Debt financing requires the entrepreneur to repay the amount borrowed plus interest. True or False True Falsewhat are two types of credit what is a security interest who is the debtor and creditor what happens if the debtor defaults what type of transaction requires a financing statementWhich of the following is an example of nonrecourse debt? (a) A personal loan secured by collateral where the borrower's liability is limited to the collateral. (b) Any business debt that is secured by collateral. (c) A home mortgage where the buyer is personally liable for any deficiency after foreclosure. (d) An automobile lease.
- Which of the following is true of a credit applicant's character? a. It reflects any unique conditions surrounding a credit applicant's transaction. b. It reflects the level of liquid assets available with a credit applicant. c. reflects a credit applicant's past payment history. d. It reflects a credit applicant's ability to repay his debt obligation.The document a lender gives a borrower detailing the actual costs of a loan is called a truth-in-lending disclosure a deed of trust a judgment affidavit a title insurance commitmentIn the context of handling debt - like items in M&A, what is the most buyer-friendly approach for items representing a hard claim that must be paid post-close? a. Purchase price adjustments b. Escrow accounts c. Insurance policies d. Working capital adjustments e. Debt refinancing
- A(n) _________ is a lender, seller, or any other person in whose favor there is a security interest. a. unsecured creditor b. general creditor c. consumer creditor d. secured creditorHow should a debt callable by the creditor be reported inthe debtor’s financial statements?6. When unspecified receivables are used to secure for a loan, which accounting treatment is required? Only a note to financial statement is required The borrower notifies the debtor that their receivables were assigned the borrower should not notify the debtor that their receivables were assigned Notify the debtor that their receivable was sold
- A promissory note is written by a. A seller in favour of another seller b. A customer in favour of another customer c. A debtor in favour of a creditor d. A creditor in favour of a debtorWhat accounts are used to record a contingent warranty liability that is probable and estimable but has yet to be fulfilled? A. warranty liability and cash B. warranty expense and cash C. warranty liability and warranty expense, cash D. warranty expense and warranty liabilityWho is more likely to record a loss from debt restructuring? A. depends on the situation B.creditor C.both debtor and creditor D. debtor