What is repossession?
A) a right granted to a debtor to take possession of the collateral after repayment of the debt
B) a right granted to a debtor to take possession of the collateral before repayment of the debt
C) a right granted to a secured creditor to take possession of the collateral on default by the debtor
D) an act of possession of the collateral by the court owing to default by both debtor and creditor
C
You might also like to view...
Living organisms on Earth share many common characteristics. Which statements are TRUE and which are FALSE about nearly all living things?Only multicellular organisms need to maintain homeostasis.
Answer the following statement true (T) or false (F)
Computer and auto repair are examples of _____ services
a. nongoods b. repair c. owned-goods d. rented-goods
Formatting of instructions
A) does not vary. B) may use graphics. C) does not consider white space.
Neptune Accounting Services expects its accountants to work for 24,000 direct labor hours per year
The company's estimated total indirect costs are $225,000. The direct labor rate is $70 per hour. The company uses direct labor hours as the allocation base for indirect costs. If Neptune performs a job requiring 30 hours of direct labor, what is the total job cost? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.) A) $225,000 B) $281 C) $2,381 D) $2,100