# 45 A type of short-term loan where the borrower sells its accounts receivables to the lender at a discount to face value is called: a bond. a compensating balance. a letter of credit. an assignment. factoring.
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- . Accounts receivable financing is the term used to describe which of the following types of loans that involve either the assignment or the factoring of a firm's accounts receivable? A. Secured short-term loan B. Unsecured short-term loan C. Secured long-term loan D. Unsecured long-term loan E. Trust receipt loanA loan secured with a financial asset (eg. Accounts receivables) is a called a ___________ loan. Collateral Debenture Mortgage Notes payable33 .The portion of the selling price paid by the customer at the time of purchase is called ________. a. Mortgage b. Amortization c. Down payment d. Installment loan
- How does getting a secured loan using accounts receivableas collateral differ from factoring?6. Open account credit provides a debtor with a predetermined line of credit and a flexible payback period. Which of the following is an example of open account credit? i. Personal Loan ii. Overdraft i. Charge card iv. Education loan A. i and ii B. i,i and ii C. ii and ii D. i,ii,i and ivWhat business circumstance could produce a short-term notes payable created from a loan?
- What is the difference between a line of credit and a short-term loan?1. Explain how an installment loan differs from revolving credit in terms of risk and the nature of the return to the lender.Loans backed by a simple promise to repay are known as _____ loans. open-end credit revolving credit securedu nsecured
- 5. Explain the following: HOW TO Find the finance charge of an installment loan.Simple interest refers to interest on a loan computed as a percentage of the loan amount. Compound interest refers to the process of, investing your money. saving your money. C a loan amortization. a loan computed at a nominal interest rate. E earning interest on interest.At the maturity of a note payable, a borrower will pay ________. A. the interest amount only B. the principal plus interest C. the principal amount only D. the principal minus interest