A Facility Fee Is

question 121

Multiple Choice

A facility fee is:

• A) the back-end fee.
• B) the commitment fee.
• C) the fee for processing the loan documents.
• D) none of the options.

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Definitions:

Rules Of Debit

Rules governing the increase or decrease in account balances within the double-entry bookkeeping system, where debits typically increase assets or expenses and decrease liabilities, equity, and revenue.

Credit Side

The right side of an accounting entry, indicating increases in liabilities, revenues, and equity, and decreases in assets and expenses.

Normal Balance

The side (debit or credit) on which increases to an account are recorded, depending on the type of account.

Liability Account

An accounting record that represents a company's legal debts or obligations that arise during the course of business operations.