Spending Unit Vocabulary
Authored by Dylan Brauer
Business
12th Grade
Used 1+ times
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64 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Someone who receives something with a promise to return it or its equivalent
Credit history
Credit limit
Borrower
Tax lien
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A loan of a certain amount of money that a borrower must repay in a specified number of equal payments. Also known as installment credit
Credit
Closed-end credit
Lender
Open-end credit
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Businesses hired by lenders to pursue payments on debts that borrowers have not paid back according to the terms of the credit contract
Co-signer
Credit
Collection agency
Lender
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person who is equally responsible for paying back debt under the credit terms
Credit score
Credit
Co-signer
Lender
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Refers to goods, services, and/or money received in exchange for a promise to pay back a definite sum of money at a future date
Tax lien
Credit score
Lender
Credit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A record of the borrower's past loans and credit-related transactions
Credit
Credit score
Credit history
Lender
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The maximum dollar amount that can be borrowed
Credit
Credit history
Credit limit
Credit score
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