Examlex

Solved

In the Event of Default Involving a Commercial Loan,the Potential

question 47

True/False

In the event of default involving a commercial loan,the potential claims against any shareholders personally are defined by the contracts of guarantee they sign with the bank.


Definitions:

Adequate Cash Flow

Sufficient amounts of cash on hand that an entity has to meet its financial obligations and operational needs.

Bills

Documents indicating a transaction or an obligation to pay for goods or services received.

QBO

Refers to QuickBooks Online, an accounting software based in the cloud, aimed at assisting small to medium businesses.

Expenses

The costs incurred by a business or individual in the process of earning revenue.

Related Questions