A Single-Payment Loan

question 84

Multiple Choice

A single-payment loan:

• A)is generally unsecured and does not have any collateral.
• B)usually matures in one year or less.
• C)is usually provided by retailers.
• D)is generally used to finance auto purchases.
• E)is provided by sales finance companies.

---

Definitions:

Equivalent Units

A measure used in cost accounting to represent the amount of work done on partially finished goods, expressed in terms of fully completed units.

Materials Entered

The recording of raw materials introduced into a production or manufacturing process, taking note of their quantity and value.

Equivalent Units

A measure used in cost accounting to express the amount of work done by manufacturers in terms of fully completed units, accounting for partially completed goods as well.

Physical Units

A measure of quantity in terms of countable items or units, often used in production and inventory contexts.