If the Borrower Prepays Interest,the Inflow of Future Economic Benefits

question 62

True/False

If the borrower prepays interest,the inflow of future economic benefits represented by the prepayment would not constitute an item of revenue to the lender because the lender has a present obligation to the borrower to provide finance for the period to which the prepayment relates.

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Definitions:

Cephalic

Pertaining to the head or the head end of the body.

Trapezius

A large, triangular muscle extending over the back of the neck and shoulders that moves the head and shoulder blade.

Distinct Muscles

Specific, individual muscles that are easily identifiable and separate from others in the body's muscular system.

Dorsal

Pertaining to the back side of the body in humans, or the upper side in quadrupeds and other animals.