Which of the following liabilities would be considered nonrecourse?

A. A bank loan for which the taxpayer is personally liable.
B. Credit card debt.
C. A $20,000 real estate loan which allows the bank to take the real estate if the taxpayer stops making payments on the loan.
D. All of the above are nonrecourse liabilities.


Answer: C

Business

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Answer the following statement true (T) or false (F)

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What will be an ideal response?

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