Examlex

Solved

Kirby and Marsha Are College Students

question 239

Multiple Choice

Kirby and Marsha are college students. Kirby is always complaining about her class load and says she feels constantly fatigued. Although Marsha has a heavier class load and works part-time, Marsha rarely complains and does not appear as fatigued as Kirby. Which of the following statements is most likely TRUE?


Definitions:

Loan Payments

Regular payments made by a borrower to a lender to repay a loan according to the agreed-upon terms.

Financing Statement

A document that lists the names and addresses of all the parties involved in the transaction, a description of the collateral, and the signature of the debtor.

Perfect

In legal and financial contexts, to complete the necessary legal steps to secure a lien or claim on property as a security interest.

Collateral

Assets pledged by a borrower to secure a loan or other credit, and subject to seizure in the event of default.

Related Questions