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36) What does it mean when a loan is in default? A. Balance must be paid off in 6 months B. Terms of the loan agreement are renegotiated C. Failure to meet the terms of a loan agreement D. Balance must be paid off in 12 months
"A loan is in default" means: Failure to meet the terms of a loan agreement.
Expert answered|Amtid09|Points 60|
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Asked 3/24/2013 2:09:44 PM
Updated 9/22/2014 6:31:07 PM
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Edited by Janet17 [9/22/2014 6:31:03 PM]
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21) Which of the following is an advantage of consumer credit? A. It serves as a source of emergency cash. B. It allows you to buy now, pay now. C. It has no impact on financial statements. D. It carries no risk of overspending.
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Updated 11/26/2016 2:27:30 PM
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It serves as a source of emergency cash is an advantage of consumer credit.
Added 11/26/2016 2:27:30 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [11/27/2016 9:43:01 AM]
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