Sarah is a designer for a business that installs underground sprinkler systems for residential and commercial customers. sarah designs and presents systems to prospective customers. brothers tom and bill share the ownership responsibilities. tom is in charge of commercial accounts and bill is in charge of residential accounts. sometimes tom and bill double book sarah's time, creating frustration and animosity. since they share supervisory responsibility, there is no clear way to decide whose accounts are most important. this type of situation represents a violation of fayol's principle. group of answer choices

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