Loans from commercial banks and other financial institutions often require firms to pledge assets as _____
a. "senior" tranches
b. derivatives
c. collateral
d. "junior" tranches
e. principal payments
C
You might also like to view...
A company must do which of the following, if a company maintains a material compensating balance of cash?
a. Disclose the compensating account arrangement in financial statements. b. Close out the balance prior to year-end. c. Tie balances to debt covenants. d. Provide a lockbox for appropriate line-of-credit draws.
An annotated presentation usually:
a. has an expanded image of each slide with room on the slide for annotation b. has a small image of each slide on the bottom of a page with room above for annotation c. has a small image of each slide on the top of a page with room below for annotation d. none of the above
Unearned Revenue is a(n) ________ account and carries a normal ________ balance
A) liability; credit B) asset; credit C) revenue; debit D) asset; debit
Peak & Vale Accountants provides other firms with accounting services. Questions of what is ethical involve the extent to which Peak & Vale has
a. a legal duty beyond those duties mandated by ethics. b. an ethical duty beyond those duties mandated by law. c. any duty beyond those mandated by both ethics and the law. d. any duty when it is uncertain whether a legal duty exists.