Erika sanders reported that last year gladstone commons had a surplus budget of 10 million dollars. this means that gladstone a.) spent less from their budget last year than it received in tax revenues b.) spent more from their budget last year than they received in tax revenues c.) spent the same amount of money from their budget last year that they received in tax returns d.) spent 110% more of their budget from last year than they received in tax revenues

The correct answer is A. A surplus budget means that you receive more than you expected to spend

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan