Between 2001-2005

question 86

Multiple Choice

Between 2001-2005,

• A) both sub-prime and adjustable rate mortgages decreased as a share of the total.
• B) both sub-prime and adjustable rate mortgages increased as a share of the total.
• C) sub-prime loans increased, but adjustable rate loans decreased as a share of the total.
• D) sub-prime loans decreased, but adjustable rate loans increased as a share of the total.

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Definitions:

Plant Asset

Long-term tangible assets that are used in the production of goods or services and are not intended for sale.

Book Value

The value of an asset according to its balance sheet account balance, taking depreciation into account.

Fair Market Value

The estimated price at which an asset would trade in a competitive auction setting.

Gain on Disposal

The profit realized from the sale of assets, other than inventory, for more than their carrying amount on the books.