Examlex
The accounting principle that states that revenue is recorded at the time that it is earned regardless of whether cash or another asset has been exchanged is the:
Fixed-Rate Mortgage
A mortgage with an interest rate that remains constant throughout the life of the loan.
Acceleration Clause
A contract provision that allows a lender to require a borrower to repay all of an outstanding loan if certain agreed upon conditions are not met.
Market Value
The price at which an asset would trade in a competitive auction setting, reflecting what a willing buyer would pay a willing seller.
Mortgage
A loan in which property or real estate is used as collateral. The borrower agrees to pay back the loan, with interest, over a set period of time.
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