Question

What does “default” refer to? the ability to be used as, or directly converted to, cash. the failure to pay back a loan. the amount of money borrowed. the price paid for the use of borrowed money.

Answer 1

The answer is "the failure to pay back a loan".

In computer systems, we have a different meaning to the word default. It is referred to the setting or option in a computer upon opening a program or application. But according to the dictionary, default refers to the failure to make a payment such as a loan.