ACCOUNTING II (MUHASEBE II) - (İNGİLİZCE) Dersi Long Term Liabilities soru detayı:

CEVAP:

If the borrower cannot pay the mortgage note, the lender has the right to take ownership of the pledged asset and sell it to pay back the debt. Mortgages payable are very similar to long-term notes payable. The main difference is the mortgages payable is secured with specific assets, whereas long-term notes are not secured with specific assets.