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Raul Needed an Expensive Piece of Equipment to Expand His

Question 91

Multiple Choice

Raul needed an expensive piece of equipment to expand his business. He borrowed the money from the bank and pledged the equipment as _____. If Raul does not repay the loan, the bank can take his equipment.


A) a promissory note
B) collateral
C) a depreciable asset
D) long-term debt

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