Banks Ask to Be Notified Within a Reasonable Time If

question 48

Short Answer

Banks ask to be notified within a reasonable time if the customer finds a(n) __________ on his or her bank statement.

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Definitions:

Bond Principal

The face value of a bond, or the amount of money the bond issuer will pay back to the bondholder at maturity.

Serial Bonds

Bonds that are issued under the same contract but mature at different times, allowing the issuer to spread the repayment over several periods.

Principal Retirement

The act of paying off the original sum of money borrowed in a loan, excluding interest payments.

Unsecured Bond

A bond not backed by collateral, relying on the issuer's creditworthiness.