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When a Survey Questionnaire in English Is Translated into Korean

question 7

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When a survey questionnaire in English is translated into Korean for use in South Korea and then translated back into English to check its accuracy, it is described as:


Definitions:

Explicit Interest

The stated interest rate on a loan or financial instrument, not including the effects of compounding or any hidden charges.

Factoring

Financing method where a firm sells its accounts receivables, usually to a specialized financing company, at a discount to their full value.

Receivables

Payments due from clients to a business for the delivery of goods or services that have not yet been compensated.

Collateral

An asset or property that a borrower offers to a lender as security for a loan, which the lender can seize if the borrower fails to make required payments.

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