1 the instrument that evidences the borrowers indebtedness, Ask an Expert

Finance

1. The instrument that evidences the borrower's indebtedness and promise to repay is called a:

1) mortgage.

2) land contract.

3) promissory note.

4) trust deed.

2. The difference between the rate of return on assets and the cost of borrowing is:

1) financial leverage.

2) spread.

3) debt service.

4) none of the above.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92696316

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