The Term 'Recourse' Refers to the Ability to Put an Asset

question 14

Multiple Choice

The term 'recourse' refers to the ability to put an asset or loan back to the seller should the:

• A)asset need to be entirely written off
• B)credit quality of that asset improve
• C)buyer not need the asset any longer
• D)credit quality of that asset deteriorate

---

Definitions:

State Government

The governing authority of a state within a country, responsible for implementing local laws, policies, and managing public services and resources.

Presidential Emergency Power

Special authority granted to the President during times of national crisis, allowing for actions not normally permitted.

National Guard

A reserve military force composed of state National Guard militia units, which may be called upon by the state or federal government during emergencies or to fulfill other duties.

Little Rock

Capital city of the state of Arkansas, historically noted for the 1957 desegregation crisis at Little Rock Central High School, which became a landmark in the civil rights movement.