Paying Off Long-Term Debt by Making Installment Payments Is Called

question 123

Multiple Choice

Paying off long-term debt by making installment payments is called:

• A)foreclosing on the debt.
• B)amortizing the debt.
• C)funding the debt.
• D)calling the debt.
• E)None of the above.

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Definitions:

Agency

A relationship between two parties in which one party (the agent) agrees to represent or act for the other (the principal).

Improbable

Unlikely to occur or be true.

Estopped

Estopped refers to a legal principle that prevents a person from arguing something contrary to a claim they previously made or agreed to by their actions or words.

Requisite Authority

The necessary or required power, permission, or jurisdiction to perform an action or enforce a policy.