Which of the Following Is a Federally-Insured Program Backed by the U.S.Department

question 5

Multiple Choice

Which of the following is a federally-insured program backed by the U.S.Department of Housing and Urban Development?

• A)Home Equity Conversion Mortgage.
• B)Proprietary Reverse Mortgage.
• C)Single-Purpose Reverse Mortgage.
• D)VA Home loan.

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Definitions:

Double-Entry System

A fundamental principle of accounting that requires every financial transaction to be recorded in at least two accounts: one debit and one credit, ensuring the accounting equation is always balanced.

T Account

A visual representation used in accounting to depict the debit and credit sides of an account for easy visualization and analysis.

T Account

A visual representation used in accounting to show the effect of transactions on the balance of accounts, featuring a T-shaped format.

Debit Balance

A financial account balance where debits are greater than credits.