The distinction between a "secured" lender and an "unsecured" lender is that in the event of the bankruptcy of the borrower
A) the unsecured lender has first claim on collateral.
B) the secured lender has first claim on collateral.
C) the secured lender has a first claim on all of the assets of the bankrupt borrower.
D) the unsecured lender has a first claim on all of the assets of the bankrupt borrower.
B
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Gregory is considering attending a concert with a ticket price of $40. He estimates that the cost of driving to the concert and parking there will add an additional $20
In order to attend the concert, Gregory will have to take time off from his part-time job. He estimates that he will lose 5 hours at work, at a wage of $8 per hour. Gregory's opportunity cost of attending the concert equals A) $80. B) $100. C) $40. D) $60. E) $20.
Refer to Table 2-11. What is South Korea's opportunity cost of producing one pound of wheat?
A) 60 digital cameras B) 20 digital cameras C) 5 digital cameras D) 0.05 units of a digital camera