Question: The amount a debtor owes a creditor on a debt after the creditor sectes and sells the colluteral ( such as a car ) :

The amount a debtor owes a creditor on a debt after the creditor sectes and sells the colluteral (such as a car):
nothing
arrears
discharge
deficiency
The amount a debtor owes a creditor on a debt

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

In order to supplement his income working in a craft store, Mr. John Collins has decided to start a home-based business that will specialize in selling used vintage records. Mr. Collins has always...

Q:

1. When an obligation is extinguished because of the passage of time, this is: (Phil CPA, 90-2) a. Fulfillment of resolutory condition. b. Arrival of a resolutory period c. Rescission d. Prescription...

Q:

1. Was VAAF contractually obligated to pay Chad for refraining from smoking? 2. Was there consideration to support its promise to pay $500? 3. Are there other facts you need to know to make that...

Q:

Question 12 pts More than one person can own an interest in a particular parcel of real property. True False Flag this Question Question 22 pts A sidewalk is usually considered to be a fixture. True...

Q:

Question 12 pts More than one person can own an interest in a particular parcel of real property. True False Flag this Question Question 22 pts A sidewalk is usually considered to be a fixture. True...

Q:

Q. Case Study - Adelphia Communications Corporation Give a background of the firm/corporation as well as a background of the auditing firm. Write a key financial statistics for the firm Write a well...

Q:

Q. Case Study - Adelphia Communications Corporation Give a background of the firm/corporation as well as a background of the auditing firm. Write a key financial statistics for the firm Write a well...

Q:

Choose the correct answer and explain. Answer number 1-35. Thank you! 1. It is a gratuitous loan of a thing, to be used for a certain time and for a certain purpose, and with the obligation to return...

Q:

My midterm is going on pls help 1. Ms. Douglas, owner of a small advertising firm, wants to borrow $15,000 from Mr. Caster, a wealthy, retired real estate agent. Ms. Douglas wants to buy a laser...

Q:

1. Mr., Edwards, a former policeman, was hired to do investigations for the stock exchange When it was found out that Edwards had cheated on the examination required by the stock exchange. he was...

Q:

Please help on my study 6:14 PM Wed Dec 16 @ 90% O a online.hfcc.edu HFC Online My Courses This Course > Student Services > HFC Online Vide Toreseeable that Annie would be injured. Question 33 Eva...

Q:

Kerr Steamship Company sent a telegram at a cost of $26.78 to the Philippines through the Radio Corporation of America. The telegram, which contained instructions in unintelligible code for loading...

Q:

Ultraviolet light causes sunburns, whereas visible light, even of greater intensity, does not. Why is this so?

Q:

7. The account balances for the Wesson International Company on January 31, 20X1, follow. The balances shown are after the first month of operations. 101 Cash $36,950 401 Fees Income $61,850 111...

Q:

You invested $4,500 in a mutual fund exactly 39 months ago when the NAV of the fund was $31.80. You have not acquired or sold any shares since that time. However, the fund paid a special distribution...