Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. ms. douglas, owner of a small advertising firm,

1. Ms. Douglas, owner of a small advertising firm, wants to borrow $15,000 from Mr....

70.2K

Verified Solution

Question

Accounting

image
1. Ms. Douglas, owner of a small advertising firm, wants to borrow $15,000 from Mr. Caster, a wealthy, retired real estate agent. Ms. Douglas wants to buy a laser printer and a computer program for desktop publishing which will make her firm more productive. Ms. Douglas has monthly billings of $4,000, owns two computers and a car but rents her office and other equipment. Her husband, Frank, is an accountant employed by another company and does not work for the company owned by Ms. Douglas. Which of the following would be the least likely type of security requested by Mr. Caster to secure repayment of the debt? a. Guarantee b. Chattel mortgage under the Personal Property Security Act c. Assignment of book accounts under the Personal Property Security Act d. Security under the federal Bank Act over inventory

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Confidence Intervals for Population Means When the Population Standard Deviation is Unknown. Use the table of critical...

Statistics
Q

Consider the power dissipated in a series R-L-C circuit with R=3600, L = 120mH, C=0.800?F,...

Physics
Q

Geometry GMD 3 Name 20 23 Kuta Software LLC All rights reserved Volume of Cones...

Geometry
Q

Use the graph of y f x assuming f x 0 if x b or...

Calculus
Q

Find the y intercept and state whether the graph opens up or down y 4...

Algebra
Q

Please read the following case in its entirety and answer the special requirements at the...

Accounting
Q

Accounts Receivable Allowance for doubtful accounts Total sales revenue (50% on credit) ...

Accounting
Q

Which statement about long-term investments is not true? Select one: A. They can never include...

Accounting
Q

At December 31, the Selig Company has ending inventory with a historical cost of $633,000....

Accounting
Q

Using a starting value of $80,000.. I did not mean to select an answer for...

Accounting
Q

Moving to the next question prevents changes to this answer. Question 27 of 50 Question...

Accounting
Q

A mutual fund had $100 million under its management at the beginning of year 1,...

Finance