Mortgages Are Contracts in Which Borrowers Give Lenders

question 48

Multiple Choice

Mortgages are contracts in which borrowers give lenders:

• A)their personal property as security for a loan.
• B)their house but not their land as security for a loan.
• C)the right to occupy their real property as security for a loan.
• D)their real property as security for a loan.

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Definitions:

Inventory

Merchandise on hand (not sold) at the end of an accounting period.

Work Around Products

Alternative solutions or products developed to circumvent problems or limitations in existing processes.

Lean Manufacturing

An organized approach for reducing waste in a manufacturing system without compromising on productivity.

Pull Manufacturing

An important lean practice in which products are manufactured only as they are needed by the customer.