The Three Main Types of Unsecured Short-Term Loans Are Which

question 116

Multiple Choice

The three main types of unsecured short-term loans are which of the following?

• A) trade credit, bank loans, and commercial paper
• B) treasury bills, certificates of deposit, and accounts payable
• C) trade credit, accounts payable, and bank loans
• D) accounts payable, notes payable, and loans payable

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Definitions:

Mortgage Note

A legal document that evidences a borrower's debt to the lender, secured by a mortgage.

Real Estate Closing

The final step in executing a real estate transaction where the title of the property is transferred to the buyer, and all related costs are settled.

Deed

A deed is a legal document that represents the ownership and transfers the title of property from one party to another.

Proceeds

The amount of money received from a transaction or event, such as the sale of an asset or completion of a project.