Which of the Following Liabilities Would Be Considered Nonrecourse

question 22

Multiple Choice

Which of the following liabilities would be considered nonrecourse?

• A)A bank loan for which the taxpayer is personally liable.
• B)Credit card debt.
• C)A $20,000 real estate loan which allows the bank to take the real estate if the taxpayer stops making payments on the loan.
• D)All of the above are nonrecourse liabilities.

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Definitions:

Bring Forward

A command in graphic and document creation software used to move objects closer to the front in a layered order of elements.

Superscript

A text formatting feature that places smaller text above the baseline, commonly used for footnotes, mathematical expressions, and chemical formulas.

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Normal Line

A term not generally recognized as a standard key term within technology or software; context needed for a specific definition. NO.