Neehara Recently Opened a Premium Bakery

question 86

Multiple Choice

Neehara recently opened a premium bakery.She did not have enough savings and hence she applied for a loan to obtain the additional funds required to start the bakery.She had to provide her house as collateral to obtain the loan.The type of financing obtained by Neehara can be regarded as a _____.

• A)mortgage
• B)trade credit
• C)mutual fund
• D)non-recourse loan
• E)dividend

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Definitions:

Aaron Burr

A political figure in early American history known for serving as Vice President under Thomas Jefferson and for his infamous duel with Alexander Hamilton.

Treason

Treason is the act of betraying one's country, typically by attempting to overthrow the government or by aiding its enemies in wartime.

Cotton Gin

A machine invented by Eli Whitney in 1793 that quickly and efficiently removed seeds from cotton fibers, revolutionizing the cotton industry.

Samuel Chase

An Associate Justice of the Supreme Court of the United States appointed by George Washington; known for his strong federalist views and later impeached, though acquitted, in an early test of the U.S. impeachment process.