With Most Auto Loans,what Is Used as Collateral

question 18

Multiple Choice

With most auto loans,what is used as collateral?

• A)Certificate of deposit
• B)Stock
• C)The purchased auto
• D)No collateral is needed because of your outstanding credit.

---

Definitions:

Rent Expense

Rent Expense is the cost incurred by a company for using a property or equipment for business operations, which is recognized on the income statement.

Continuous Budgets

Budgets that are continuously updated by adding a new budget period as the last one is completed, thus always having a full period's financial plan.

Communicating Objectives

The process of clearly and effectively sharing goals and targets with relevant stakeholders or team members.

Ending Inventory

The total value of all inventory still available for sale at the end of an accounting period, calculated by adding new purchases to beginning inventory and subtracting the cost of goods sold.