After Graduating,a Student Set Up a Business as a Systems

question 121

Multiple Choice

After graduating,a student set up a business as a systems analyst.His monthly billings are healthy,about $10 000 a month.He rents his office,hardware,and furniture and owns few assets.He rents his apartment,has no car,and spends most of his income on concerts.If he approaches you,a bank manager,to borrow $50,000 for the purpose of increasing his working capital,which of the following securities would you most likely request?

• A) conditional sale contract
• B) chattel mortgage
• C) security under sections 426 and 427 of the Bank Act
• D) floating charge debenture
• E) assignment of accounts receivable

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Definitions:

Cocaine

Cocaine is a powerful stimulant drug derived from the leaves of the South American coca plant, known for its euphoric effects and potential for addiction.

Illegal Drugs

Substances whose production, possession, or use are prohibited by the law.

6-Year-Olds

Children of age six typically exhibit growth in cognitive and physical abilities, and show more complex social interactions and understanding of the world around them.

Marijuana

A psychoactive drug derived from the Cannabis plant, used both medicinally and recreationally for its mood-altering effects.