An Asset Used to Secure a Loan Is Called

question 153

Multiple Choice

An asset used to secure a loan is called.

• A) collateral.
• B) a retainer.
• C) a down payment.
• D) an investment.

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Definitions:

American History

The study and exploration of the events, people, cultures, and political movements that have shaped the United States over time.

Corporate Veil

The corporate veil is the legal concept separating the actions of a corporation from its shareholders, protecting them from personal liability.

Shareholder

An owner of a corporation, who has no inherent right to manage the corporation but has liability limited to his capital contribution. Also called stockholder.

Obligations

Duties or responsibilities that are legally or morally binding.