All of the Following Are True Regarding a Cosigner on an Account

question 43

Multiple Choice

All of the following are true regarding a cosigner on an account, except

• A) the cosigner is responsible for any unpaid balance.
• B) the lender may not seize the assets of the cosigner.
• C) cosigning an account is a big liability and should be taken seriously.
• D) cosigning on a loan can restrict the amount that the cosigner is able to borrow.

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Definitions:

Cash Receipts

The total amount of cash collected by a business during a specific period.

December

The twelfth and final month of the year in the Gregorian calendar.

Production

The process of creating goods and services using labor, machinery, tools, and chemical or biological processing or formulation.

December

The last month of the year according to the Gregorian calendar, which is the twelfth.