Default Occurs When the Borrower Fails To

question 5

Multiple Choice

Default occurs when the borrower fails to:

• A) make timely payments on the loan
• B) repay the principal of the loan
• C) neither a nor b
• D) both a and b

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Definitions:

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A report that categorizes a company's payable bills by their due dates to manage and monitor its debts more effectively.

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Credit Limit

The maximum amount of credit that a lender will extend to a borrower, which determines how much can be borrowed or spent on a credit account.

Navigation Bar

A user interface element within software or websites that allows users to easily move between different sections or pages.