A Lender That Fails to Record a Mortgage Could Find

question 52

True/False

A lender that fails to record a mortgage could find itself in the position of an unsecured creditor.

---

Definitions:

Net Income

The total profit of a company after all expenses and taxes have been subtracted from total revenue.

Contribution Margin

The difference between sales revenue and variable costs, indicating the contribution of sales to fixed costs and profits.

Sales Increase

A rise in the volume or amount of products or services sold by a business.

Break-Even Sales

The amount of revenue needed to cover both fixed and variable expenses, resulting in a net income of zero.