Which of the Following Types of Credit Is Not Closed

question 1

Multiple Choice

Which of the following types of credit is not closed end?

• A)Bank Loan.
• B)Pension Loan.
• C)Insurance Loan.
• D)Credit Association Loan.
• E)All of the above loans are closed end.

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Definitions:

Equivalent Units Of Production

The number of production units that could have been completed within a given accounting period, given the resources consumed.

Average Cost Method

An inventory valuation method that calculates the cost of goods sold and ending inventory value based on the average cost of all similar items in inventory.

Direct Materials

Raw materials that can be directly traced to the production of goods in the manufacturing process.

Lean Manufacturing

A methodical procedure designed to cut down on waste in a factory setup without reducing work efficiency.