0s and 1s Are Electronic Signals That Represent ____

question 56

Multiple Choice

0s and 1s are electronic signals that represent ____.

• A) on and off
• B) yes and no
• C) negative and positive
• D) Both A and B.

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Definitions:

Insolvent

A financial state where an individual or organization cannot meet its debt obligations as they come due.

Liabilities

Financial obligations or debts that a company owes to outside parties, which are recorded on the right-hand side of the balance sheet.

Creditors

Individuals, organizations, or entities that have lent money or extended credit to another party, and thus are owed repayment of the principal amount plus any applicable interest or charges.

Recourse

A provision that allows a lender to seek financial compensation from a borrower if default occurs.