chapter 10 reading Flashcards
1
Q
installment note
A
liability requiring series of payments to lenders
2
Q
who are installment notes common for
A
franchisers when lenders and borrowers agree to spread payment overtime
3
Q
payment on installment note include
A
include accrued interest expense and part of amount borrowed (principal)
4
Q
mortagae
A
legal agfreement that helps protect lender if borrower does not make required payments on notes or bonds
5
Q
what are mortgage notes popular in
A
purchases of homes and plant assets
6
Q
mortage notes must be
A
disclosed
7
Q
A
