12-36Which Term Indicates That in the Event of Default,the Lender

question 14

Multiple Choice

12-36.Which term indicates that in the event of default,the lender can require that the entire amount of the debt become due?

• A) due-on-sale clause
• B) due process clause
• C) due payment clause
• D) acceleration clause

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Definitions:

Average Cost

The total cost of production divided by the number of units produced, representing the cost per unit.

Shares

Units of ownership in a company or financial asset, giving shareholders a portion of the company's profits and voting rights.

PST

Depending on the context, this could stand for Pacific Standard Time, which is the time zone observed on the west coast of the United States, or Provincial Sales Tax, a tax imposed by some Canadian provinces.

GST

Goods and Services Tax; a value-added tax levied on most goods and services sold for domestic consumption.