Which of the Following Can Result from a Failure to Repay

question 91

Multiple Choice

Which of the following can result from a failure to repay a loan?

• A) Bankruptcy.
• B) Loss of income or valuable property.
• C) Loss of a good reputation.
• D) Damage to family relationships.
• E) All of the above may result from the failure to repay a loan.

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Definitions:

Budgeting

Constructing a scheme to allocate your funds, specifying forthcoming financial ambitions and the tactics to achieve these goals.

Client-visits

The number of times clients visit a business or service center, often used as a metric in customer service and sales industries.

Activity Variance

The difference between the budgeted amount of activity (like hours or units) and the actual amount achieved.

Budgeting

The process of creating a plan to spend your money, allowing for the allocation of funds to various areas.