Which of the Following Is NOT a Key Characteristic of Loans

question 20

Multiple Choice

Which of the following is NOT a key characteristic of loans sold in the short-term loan sale market?

• A)Issued as a secured loan.
• B)Loans to investment grade borrowers or better.
• C)Issued with a fixed rate.
• D)Sold in units of $1 million and up.
• E)Issued for 90 days or less.

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Definitions:

Monthly Schedule Depositor

A designation for businesses that are required to deposit employment taxes on a monthly basis due to their tax liability amount.

Semiweekly Schedule Depositor

This term refers to businesses that are required to deposit employment taxes on a semiweekly basis, typically when they have accrued a certain amount of tax liability.

Tax Liability

The total amount of tax owed to federal, state, or local tax authorities for a given period.

Form 4070

A tax form used by employees in the United States to report tips received to their employer.