________ have liens,or security interests,on specific assets.
A)Secured creditors
B)Creditors with priority
C)Unsecured creditors
D)Assured creditors

Question

Quizplus · Accepted Answer

Secured creditors have liens or security interests on specific assets, which means that in case of default by the debtor, they have the right to take possession of the collateral, sell it, and recover the amount owed to them. Unsecured creditors, on the other hand, do not have any such security interests and have to rely on the creditworthiness of the debtor. Creditors with priority have a higher claim to the debtor's assets than other creditors but do not necessarily have security interests. Assured creditors are not a recognized category of creditors.

________ Have Liens,or Security Interests,on Specific Assets