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Brenda delivers an eight-hour training program in customer service to a group of new employees. The training program includes no breaks and is the only training the new employees will receive. Brenda has implemented a training practice referred to as:
Blanket Liens
A security interest covering nearly all types of collateral owned by the debtor.
Compensating Balance
A minimum balance that must be maintained in a bank account, often required by banks in return for loans or as a condition for obtaining certain services.
Effective Annual Cost
This term refers to the total cost of borrowing on an annual basis, including interest and any fees, taking compounding into account.
Nominal Cost
The original cost of an asset or investment, not adjusted for inflation or other factors affecting its current value.
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