A Loan That Is Usually a One-Time Loan Made to a Borrower

question 123

Multiple Choice

A loan that is usually a one-time loan made to a borrower who needs funds for a specific purpose for a short period is called a ________.

• A) term loan
• B) bill of exchange
• C) mortgage loan
• D) single-payment note

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Definitions:

Concert

A live performance, typically of music, before an audience.

Objective and Task Budgeting

A method of budgeting where funding is allocated based on the identification of specific objectives and the tasks required to achieve them.

Competitive Parity Budgeting

Allocating funds to promotion by matching the competitor's absolute level of spending or the proportion per point of market share. Also called matching competitors or share of market.

All-You-Can-Afford Budgeting

Allocating funds to promotion only after all other budget items are covered.