Loans on Which the Interest Is Paid in Advance Are

question 45

Multiple Choice

Loans on which the interest is paid in advance are often called ________.

• A) premium loans
• B) long-term loans
• C) term deposits
• D) discount loans

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Definitions:

Operating Procedures

Standardized instructions or methods that outline how specific tasks or operations should be performed.

Standard Operating Procedures

Detailed, written instructions designed to achieve uniformity of the performance of a specific function or operation within an organization.

Memorandums

Also known as memos, they are brief written messages used within an organization to communicate policies, procedures, or official business among employees.

External Audiences

Groups or individuals outside of an organization who are interested in or affected by its activities and communications.