FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:D. Assessment Tasks
8400 Surigao City, Philippines
Activity 1:
Choose the correct answer.
1. It is
a secured or unsecured loan issued by the lender for personal use.
A. Business Loan
B. Consumer Loan
2. It is a type of loan where a variable interest rate can be one of the conditions.
A. Business Loan
B. Consumer Loan
3. It is a type of loan where issuance can be based on the borrower's credibility.
B. Consumer Loan
A. Business Loan
4. It is a type of loan where the money borrowed is used to expand the or support a business.
B. Consumer Loan
A. Business Loan
5. In case the borrower failed to pay the loan, the lender has the right to claim the borrower's asset as paymen
A. Unsecured Loan
B. Secured Loan
6. A collateral is one of the requirements to avail a loan.
B. Secured Loan
A. Unsecured Loan
7. Grocery
A. Business Loan
B. Consumer Loan
8. Truck
A. Business Loan
B. Consumer Loan
9. Jewelry
A. Business Loan
B. Consumer Loan
Page 62 of 98
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