Which of the Following Statements Is False

question 28

Multiple Choice

Which of the following statements is false?

• A) Bank loans are typically initiated with a promissory note, which is a written statement that indicates the amount of the loan, the date payment is due, and the interest rate.
• B) The most straightforward type of bank loan is a single, end-of-period-payment loan.
• C) With a fixed interest rate, the specific rate that the bank will charge is stipulated at the time the loan is made.
• D) One of the primary sources of short-term financing, especially for small businesses, is the investment bank.

---

Definitions:

Dependents

Individuals who rely on another person, typically a family member, for financial support and are often considered for exemptions on income tax returns.

Insurance and Tax Purposes

Refers to the need for individuals and organizations to maintain financial records and policies for legal and fiscal responsibilities.

Professional Interactions

Exchanges or engagements between professionals that are governed by ethical standards, respect, and consideration for each other's roles.

Social Networking

The use of internet-based social media platforms to stay connected with friends, family, or colleagues, and sometimes to meet new people.