Ignatio Applied for a Loan for His Business That He

question 38

Multiple Choice

Ignatio applied for a loan for his business that he will repay in nine months. The best way to describe this loan is as a(n)

• A) account payable.
• B) accrued expense.
• C) short-term note.
• D) long-term note.

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Definitions:

Delusional Experiences

False beliefs firmly held despite clear or obvious evidence to the contrary, often symptomatic of psychiatric disorders such as schizophrenia.

Posttraumatic Stress Disorder

A psychiatric disorder that may occur in people who have experienced or witnessed a traumatic event, characterized by severe anxiety, flashbacks, and uncontrollable thoughts about the event.

Mental Defect

An outdated and offensive term that was previously used to describe a range of intellectual disabilities or cognitive impairments.

American Law Institute (ALI)

An independent organization in the United States that produces scholarly work to clarify, modernize, and otherwise improve the law.