Lauren Owns a 1967 Ford Mustang, Which Mike Customizes and Details

question 40

Multiple Choice

Lauren owns a 1967 Ford Mustang, which Mike customizes and details to Lauren's specifications. The car earns several awards at regional ve?hicle customizing competition shows. The result of Mike's efforts is

• A) accession.
• B) acquisition.
• C) conversion.
• D) resolution.

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Definitions:

Payment Maturity

The date on which a financial obligation must be repaid in full.

Note Issuance

Note issuance involves the creation and offering of a promissory note, a financial instrument wherein the issuer promises to pay a specific amount to the holder on demand or at a future date.

Estimable Liability

A financial obligation or debt that can be measured or estimated with a reasonable level of accuracy.

Probable Likelihood

A high chance or probability that an event will occur.