Which of the Following Is True with Respect to Installment

question 99

Multiple Choice

Which of the following is true with respect to installment accounts?

• A) A down payment is normally required.
• B) Large purchases are usually not covered by this form of credit.
• C) By law, finance charges cannot exceed 20 percent of the purchase price.
• D) Short-term consumer credit is provided.

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Definitions:

Moral Idealism

A philosophy that considers certain actions to be right or wrong regardless of the context or consequences of those actions.

Environment

The surrounding conditions, influences, or forces that affect the operation of a business or the well-being of individuals.

Moral Idealism

A philosophical belief that places importance on certain ethical principles as absolutes, irrespective of the outcomes.

Accumulated

Refers to an amount or quantity of something that has been gathered or collected over a period of time.