On Graduation, You Start a Small Business Consulting Service Operating

question 16

Multiple Choice

On graduation, you start a small business consulting service operating from leased premises, and one year into business you borrow $25,000 from a bank. The best (being the most useful) security the bank can likely get from you is probably

• A) a chattel mortgage.
• B) a bill of sale.
• C) an assignment of book debts.
• D) a conditional sale agreement.
• E) a right of lien.

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Definitions:

Modus Ponens (MP)

A logical argument form where if a conditional statement ("if p then q") is accepted, and the antecedent (p) is shown to be true, then the consequent (q) must also be true.

Constructive Dilemma (CD)

A type of logical argument that presents two conditional statements and concludes that if one is true, then a specific outcome follows.

Modus Ponens (MP)

A form of argument in deductive reasoning that applies the following structure: if P then Q; P is asserted to be true, therefore Q must be true.

Modus Tollens (MT)

A logical form of argument that concludes the inverse of an antecedent from the negation of the consequent of a conditional statement.