Chapter 18 Principles of Business and Marketing - Credit

Chapter 18 Principles of Business and Marketing - Credit

11th - 12th Grade

30 Qs

quiz-placeholder

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Chapter 18 Principles of Business and Marketing - Credit

Chapter 18 Principles of Business and Marketing - Credit

Assessment

Quiz

Business

11th - 12th Grade

Medium

Created by

Vicki Stidham

Used 2+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is illegal for a state or local government to purchase goods on credit.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person's reputation for paying bills ontime is known as collateral.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The cost of using someone else's money is called interest.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Federal Trade Commission reports that credit card fraud is a major problem.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A creditor is a business or individual who is willing and able to provide information about your creditworthiness.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People who use affinity cards are usually expected to pay the full balance each month. (An affinity card is a credit card usually associated with a bank or other organization that agrees to donate to a charitable source each time the card is used)

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If you borrowed $200 for one year and paid $220 at maturity, the interest you paid would be 20 percent.

True

False

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