Becky no longer wants to use her Clothes‐R‐Us store credit card. What is the best thing she could do with the credit card?

d. Close the account by phone and in writing, then destroy the card. More test answers on https://studyhippo.com/mr-massie/

What event is credited with leading to the passage of the Clean Water Act?

the Cuyahoga River catching fire More test answers on https://studyhippo.com/chapter-5-mastering-environmental-science/

Which pair of accounts follows the rules of debit and credit in the opposite manner?

Dividends and Medical Fees Earned More test answers on https://studyhippo.com/accounting-midterm/

Which of the following is a primary advantage to the ambulatory care setting that accepts credit cards?

money is available withing 24 or so More test answers on https://studyhippo.com/medical-assisting-chapters-19-21-practice-test/

Nonrefundable credits are those that reduce the taxpayer’s tax liability and are paid when the amount of the credit (or credits) exceeds the taxpayer’s tax liability. a. True b. False

False Most credits are not refundable. More test answers on https://studyhippo.com/ch12-pretestposttest/

Keesha has just taken a job in a neighboring city. She needs to purchase a car, but she has limited cash. Which type of credit is she most likely to use to buy a car?

The answer is NOT Unsecured credit card More test answers on https://studyhippo.com/exam-02-00-it-all-begins-with-you-pre-assessment/

Brice tried to borrow money from a bank. He learned his credit was low. What happens?

He gets a higher interest rate on a loan More test answers on https://studyhippo.com/personal-finance-credit-basics/

Credit scores reflect how likely individuals are to repay their debts.

Which statement about credit scores is TRUE? More test answers on https://studyhippo.com/credit-3-personal-finance16/

What is likely to happen if a borrower misses a payment on a credit card account?

The credit card company applies a penalty rate, increasing the card’s interest rate. More test answers on https://studyhippo.com/02-10-module-two-exam-2/

When preparing the Income Statement, after all account total debits and credits are entered correctly, verified and totaled, what is the next step?

Double rule across both account columns or the total column only More test answers on https://studyhippo.com/acc1-2-02-testbank-questions-for-accounting-objective-2-02/

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Credit Flashcards, test questions and answers

Discover flashcards, test exam answers, and assignments to help you learn more about Credit and other subjects. Don’t miss the chance to use them for more effective college education. Use our database of questions and answers on Credit and get quick solutions for your test.

What is Credit?

Credit cards are a convenient and secure way to make purchases, but there are some drawbacks that must be considered before signing up for one. A credit card is an electronic payment card that allows you to access funds or purchase goods and services on credit. They are issued by banks and other financial institutions, allowing customers immediate access to cash or goods without having the physical money in hand. The convenience of using a credit card can be very appealing. You don’t need to carry around large amounts of cash when making purchases, which can help reduce the chances of theft or loss. Credit cards usually offer rewards such as points or cash back when used at certain outlets or online stores, giving customers extra incentives to use them regularly. Credit cards also provide users with protection against fraud by limiting liability if their information is compromised in a data breach. Although there are many benefits associated with using a credit card, it’s important to consider the potential risks as well. Interest rates on some credit cards can be high, meaning that even small purchases may incur significant fees over time if not paid off quickly enough each month. Additionally, impulse buying is more likely when using a credit card since you’re not immediately seeing the cost due at checkout like you would with cash payments. Finally, missing payments could lead to late fees and penalty interest rates being applied not something anyone wants. In summary, while there may be some drawbacks associated with owning a credit card they remain popular because of their convenience and security features just remember to keep track of all your purchases and pay off any balances quickly each month in order avoid any additional costs.