Finance
A Massachusetts lender requires a 'personal financial statement' from a commercial borrower. This document shows the borrower's:
ABusiness plan and projections only
BPersonal assets, liabilities, income, and net worth✓ Correct
CProperty management history
DTax filing history for the past 5 years
Explanation
A personal financial statement is a snapshot of an individual's financial position, showing personal assets, liabilities, net worth, and income. Commercial lenders review it to assess the borrower's personal financial strength in addition to the business or property income.
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