Handyman Hardware, a Small Community-Based Store, Offers Its Consumers the Option

question 66

Multiple Choice

Handyman Hardware, a small community-based store, offers its consumers the option of using credit. Creditworthy individuals are able to use the "HH Credit Card" for all purchases up to a credit limit of $1,000. Consumers are required to pay at least 20 percent of their outstanding balance at the end of each month. A two percent finance charge is assessed on the unpaid balance at the end of each billing cycle. Handyman Hardware is employing ____ in its business.

• A) open charge accounts
• B) installment accounts
• C) revolving charge accounts
• D) selective accounts

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Definitions:

External Factors

Elements outside an individual that can influence their behavior, decisions, health, and psychology, including social, environmental, and economic factors.

Internal Attributions

Attributing behavior to personal traits rather than external factors.

Unusual Situation

A scenario or circumstance that deviates significantly from what is considered normal or expected.

Videotape

A magnetic tape used for recording visual images and sound for television broadcasting or personal use.