An Assignor Normally Guarantees That the Obligor Will Pay the Assigned

question 57

True/False

An assignor normally guarantees that the obligor will pay the assigned debt.

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Definitions:

Unpaid Payroll

The total sum of all wages, salaries, bonuses, and deductions owed to employees that have not yet been paid.

Depreciation

The accounting process of allocating the cost of a tangible asset over its useful life, reflecting decrease in value over time.

Municipal Bonds

Fixed-income securities issued by cities, states, or other local government entities to finance public projects.

Taxable Corporate Bond

A fixed-income security issued by a corporation that is subject to taxes on the interest income received by the bondholder.