Loan practice question ..
Options
topcat
Registered Posts: 452
Have to pick the most suitable option taking into account the bullet points, I think it is option 2 but the answer is option 3 I can not see why after looking for 15 minutes so maybe a fresh pair of eyes will help.
My reasoning behind option 2 is the loan is secured on the capital item where as option 3 is secured on all assets of the partnership.
Option 3 contradicts the third bullet point...
My reasoning behind option 2 is the loan is secured on the capital item where as option 3 is secured on all assets of the partnership.
Option 3 contradicts the third bullet point...
0
Comments
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I agree. The notes say 'may not', not 'preferably not', so to my mind, option 3 is a non starter even before you get the calculator out.0
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I've always found the AAT stuff to be fairly reliable but on the basis of what you have copied and pasted, I still can't see how that wording can leave option 3 as an option.0
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