Which of the Following Are True of Mortgages

question 2

Multiple Choice

Which of the following are true of mortgages?

• A) A mortgage is a long-term loan secured by real estate.
• B) Borrowers pay off mortgages over time in some combination of principal and interest payments that result in full payment of the debt by maturity.
• C) Less than 65 percent of mortgage loans finance residential home purchases.
• D) All of the above are true of mortgages.
• E) Only A and B of the above are true of mortgages.

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Definitions:

Franchise Revenue

Income generated from franchising operations, which may include initial franchise fees, ongoing royalties, and other franchise-related income.

Cost of Goods Sold

Direct expenditures involved in the making of a company's sold products, which includes labor and material costs.

Freight Out

The cost of transporting goods from a seller's premises to the buyer's location, typically recorded as a selling expense by the seller.

Transportation to Consignees

The costs incurred to transport goods to consignees, who will sell the goods on behalf of the shipping party.