A Loan Based on the Difference Between the Appraised Value

question 79

Short Answer

A loan based on the difference between the appraised value of your house and the balance due on your mortgage is called a(n) ________ loan.

---

Definitions:

Cash Budget

A financial plan that estimates cash inflows and outflows over a specific period, helping manage liquidity and cash reserves.

Direct Labor Budget

An estimate of the total amount of labor cost that will be needed to produce the products a company plans to manufacture in a specific period.

Variable Manufacturing Overhead

Indirect manufacturing costs that fluctuate with production volume, such as utility costs for running production equipment.

Fixed Manufacturing Overhead

The total of all production costs that do not change with the level of output, including salaries, rent, and insurance.