Because Pledged Receivables Only Serve as Collateral for a Loan

question 77

True/False

Because pledged receivables only serve as collateral for a loan and are not sold, it is not necessary to disclose the pledging.

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Definitions:

Glacier

A glacier is a large, slow-moving mass of ice, formed from compacted layers of snow, that moves under its own weight.

Sorted

In geological terms, this refers to the process by which particles are separated and deposited according to size and weight by natural agents like water or wind.

Piedmont Glacier

A broad glacier that forms when an ice sheet or valley glacier spreads out as it moves into less confined topography.

Continental Ice Sheet

A large mass of ice, including glaciers, that covers a large part of a continent.