Business Law 6.02 Credit Vocabulary

5 Questions | Total Attempts: 117

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Business Law Quizzes & Trivia

It has been said that it is very has been said that a business cannot run on equity alone and has to have taken credit or given credit to others. The debt should never supers equity. Have you just finished business law 6. 02 course? Take up this quiz on credit vocabulary to refresh your memory.


Questions and Answers
  • 1. 
    A party who sells on credit or lends money
    • A. 

      Debtor

    • B. 

      Creditor

  • 2. 
    A party who buys on creit or borrows money
    • A. 

      Debtor

    • B. 

      Creditor

  • 3. 
    Property that is the subject of a secured loan
    • A. 

      Cosigner

    • B. 

      Credit Card

    • C. 

      Collateral

    • D. 

      Grace Period

  • 4. 
    What is a stale check?
    • A. 

      A check that is more that 6 months old

    • B. 

      A check that is more that 4 months old

    • C. 

      A check that is 3 months old

    • D. 

      None of the above

  • 5. 
    To send a check in the mail, which is the best endorsement to use>
    • A. 

      Full Endorsement

    • B. 

      Special

    • C. 

      Full

    • D. 

      Restrictive