Bank Loans Practice Quiz » Week 3 » Liabilities And Equity In Accounting

Q: A legal claim on an asset used as collateral in satisfying a debt is called a:

Correct! A legal claim on an asset used as collateral in satisfying a debt is called a Lien.

Q: The process of systematically repaying a loan over time is referred to as:

Correct! Amortization is the process of systematically repaying a loan over time.

Q: A loan used to finance a company’s daily operations is called a(n):

Correct! A loan used to finance a company’s daily operations is called a Working Capital Loan.

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Q:

A legal claim on an asset used as collateral in satisfying a debt is called a:

View Solution

Q:

A loan used to finance a company’s daily operations is called a(n):

View Solution

Q:

The process of systematically repaying a loan over time is referred to as:

View Solution

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