Which of the Following Is an Example of an Unsecured

question 87

Multiple Choice

Which of the following is an example of an unsecured debt?

• A)auto loan
• B)second mortgage
• C)signature loan
• D)first mortgage

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Definitions:

Indirect Method

A technique used in cash flow statements to adjust net income for non-cash transactions and changes in working capital.

Income Statement

A financial report showing a company's revenues, expenses, and profit over a specific period.

Cash Dividends

Payments made by a corporation to its shareholders out of the company's profits.

Dividends Payable

A liability representing an amount owed by a company to its shareholders as a distribution of the company's earnings.