Ronnie Needed an Expensive Piece of Equipment to Expand His

question 20

Multiple Choice

Ronnie needed an expensive piece of equipment to expand his business.He borrowed the money from the bank and pledged the equipment as ___________.If Ronnie does not repay the loan, the bank can take his equipment.

• A)a promissory note
• B)collateral
• C)asset in escrow
• D)long-term debt

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Definitions:

Bandura

Refers to Albert Bandura, a psychologist who is best known for his social learning theory and the concept of self-efficacy.

Congressional Hearing

A formal meeting or session of a U.S. congressional committee to gather information, witness testimonies, or discuss legislation.

Observational Learning

Learning that occurs by watching the actions of others and the consequences of those actions, also known as social learning or modeling.

Bandura's Theory

Refers to Albert Bandura's Social Learning Theory, which posits that people learn from one another through observation, imitation, and modeling.