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the requirements of a future payment of a specific or estimated amount of cash, at a specific or projected date are characteristics of debt. identify another common characteristic. multiple choice question. periodic interest is incurred periodic interest must be paid periodic principal payments must be made

Answer :

Periodic interest is incurred and is one of the features of debt that is typically required to be paid back at a future date and in a precise or expected amount of money.

What constitutes debt?

Term debt is a loan with predetermined monthly or year payment amounts. Consider borrowing $50,000 and repaying it over the course of five years with monthly payments. These loans are relatively predictable because they frequently have fixed interest rates and predetermined payments.

Why is it known as debt?

Debt is an obligation  by one party, the debtor, to another, the creditor. In other words, debt occurs when a person (a debtor) borrows money and is to be accountable for and that is the reason its called debt.

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