The Most Convenient Document for a Bank to Use to Get

question 8

Multiple Choice

The most convenient document for a bank to use to get a security interest in a wide range of assets of a business when the bank makes a large business loan is a(n)

• A)mortgage
• B)assignment of book debts
• C)general security agreement
• D)financing lease
• E)consignment

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Definitions:

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, typically comprising the balance sheet, income statement, and statement of cash flows.

Profit-Oriented Business

A business that operates with the primary goal of earning revenue in excess of its operating costs.

Deferral Method

An accounting technique that involves postponing the recognition of certain revenues or expenses until a later accounting period.

Programmatic Reporting

Reporting focused on the outcomes and impacts of programs, often related to policy or service implementations.