A Single-Payment Loan Used to Finance a Purchase When the Cash

question 51

Multiple Choice

A single-payment loan used to finance a purchase when the cash to be used for repayment is known to be forthcoming in the near future is a form of:

• A)collateral note.
• B)interim financing.
• C)cumulative borrowing.
• D)loan rollover.
• E)loan extension.

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Definitions:

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