A Loan That Requires the Borrower to Make the Same

question 82

Multiple Choice

A loan that requires the borrower to make the same payment every period until the maturity date is called a

• A) simple loan.
• B) fixed-payment loan.
• C) discount loan.
• D) same-payment loan.
• E) none of the above.

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Definitions:

Customer Aging

Customer aging, similar to accounts payable aging, categorizes outstanding accounts receivable based on the duration the invoices have been outstanding.

Past Due Bills

Bills or invoices that have not been paid by the designated due date, often resulting in late fees or penalties.

Pay Bills Window

A feature in financial software that allows users to manage and process payments to vendors or creditors directly from their accounts payable.

Accounts Payable

The amount of money that a company owes to its suppliers or creditors for goods or services received.