A loan that is associated with a valuable asset that can be taken by the lender is a secured loan.
Ray's loan is unsecured.
Jack's mortgage is a secured loan.
<h3>What are secured and unsecured loans?</h3>
A secured loan is a loan that is backed up by an asset. If the borrower defaults on the loan,the lenfer can take possesion of the asset. An unsecured loan is a loan that is not backed up by any asset.
An unsecured loan is more risky than a secured loan. Thus, unsecured loans have a higher rate of interest.
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They are an example of government agency of which they are
responsible of providing specific services to its people in either a federal,
state, city or even country. Examples of these are mentioned above such as the
U.S department of commerce and the census bureau.
Answer:
option D - Impress on management its ultimate responsibility for the financial statements and disclosures.
Explanation:
Correct answer is option D:
The written representations are written statements made by management team explaining about the distinct topics and also used as audit evidence.
This document taken as supporting document which is used to confirm other audit. The auditor managed the list of representation to be signed by client.
Answer:
directors are the trustees of the company's money and property, and also act as agents in the transaction which they enter into on behalf of the company. Directors are liable as trustees for breach of trust, if they misapplied the funds or committed breach of byelaws of the company.
An auditor is an authorised personnel that reviews and verifies the accuracy of financial records and ensures that companies comply with tax norms. They primarily objective is to protect businesses from fraud, highlight any discrepancies in accounting methods, among other things.
Answer:
A company might launch new competitive actions to improve market position, <u>capitalize</u> on growing demand, <u>expand</u> productive capacity, provide an innovative new solution, or obtain first mover advantages.