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Not Attempted Attempted Bookmarked nal Financial Question (1) t Test A business loan guarantor is...

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Not Attempted Attempted Bookmarked nal Financial Question (1) t Test A business loan guarantor is a member of a profit-sharing plan at his company. Why should you be concerned about depending on the funds in his retirement plan as a source of support for his guaranty? Al Responded The customer's tax lability on the profits might influence his participation in the plan. You may doubt the customer's sincerity about repaying the loan. There may be restrictions on the customer for drawing funds from the plan. The company may not have sufficient profits in the future to provide funding for the plan Mark for review Submit Question (2) Test Which of the following is an example of a personal contingent liability for a business owner? All Responded Mortgages that the owner owes on personal real estate A personal loan that is not yet disbursed A personal line of credit that is currently unused A guarantee given for a loan to an unrelated business Mark for review Submit

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