
Standard 6 CREDIT
Authored by Shawana Calixte
Business
12th Grade
Used 1+ times

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26 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is money borrowed to buy something now, with the agreement to pay for it later called?
Credit
Loan
Mortgage
Installment
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was one of the earliest forms of credit in the US?
Account at the general store
Credit card
Bank loan
Payday loan
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Over spending on credit cards has had what effect on the American consumer?
Enormous debt
Improved savings
Increased wealth
Better credit scores
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do banks and stores encourage consumers to use credit?
So they will spend more money
To reduce transaction fees
To improve customer loyalty
To increase cash flow
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When you borrow money or use credit you are a?
borrower or debtor
lender
investor
banker
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The person or company that loans money or extends credit to you is the?
Creditor
Debtor
Investor
Borrower
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the property that you possess that is worth more than your debts called?
Capital
Liability
Expense
Revenue
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