Examlex
All of the following statements are true of an alphabetic filing system EXCEPT:
Balance of Loan
The remaining amount owed on a debt after periodic repayments have been made.
Financing
The process of providing funds for business activities, making purchases, or investing, through various means such as loans, credit, or investment.
Previously Owned
Refers to items or assets that have been owned by another party before the current owner.
Loan Payment
The act of paying back a borrowed sum of money to a lender, typically including both principal and interest components.
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