If a Borrower Fails to Repay the Loan,the Responsibility of a Third-Party

question 39

True/False

If a borrower fails to repay the loan,the responsibility of a third-party to pay it back is called a surety arrangement.

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Definitions:

LESS THAN Instruction

A programming operation used to compare two values, resulting in a Boolean output that is true if the first value is less than the second.

True

In programming and digital logic, a condition or value representing truth, often equated to 1 or high state.

Closed-loop Control

A control system methodology where output is measured and continuously fed back into the system for real-time adjustments to achieve desired performance.

PLC Control

PLC (Programmable Logic Controller) control refers to the automation of machinery and processes using a specialized computer that executes instructions for logical operations, sequencing, timing, counting, and arithmetic to control machines and processes.