A State Statute That Establishes the Ceiling or Maximum Rate

question 22

Multiple Choice

A state statute that establishes the ceiling or maximum rate of interest to be charged on a loan is a:

• A) usury statute
• B) foreclosure statute
• C) redemption statute
• D) endorsement statute

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Definitions:

Net Income

Net Income is the total profit of a company after all expenses, including taxes and operating costs, have been deducted from total revenue.

Dividends

Rephrased: Payments made by a corporation to its shareholders, usually as a distribution of profits.

Net Income

The concluding income of a company after removing the costs and taxes from its revenue.

Average Total Assets

The mean value of all the assets a company owns, calculated by adding the beginning and ending total asset balances during a period and dividing by two.