Which Statement Best Characterizes Credit Cards

question 197

Multiple Choice

Which statement best characterizes credit cards?

• A) They are a payment form of money.
• B) They are part of the M1+ money supply.
• C) They are a method of deferring payment.
• D) They are a unit of account.

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Definitions:

Judgment Creditor

A creditor who has received a legal judgment confirming the debtor owes the creditor money.

Life Insurance Policy

A contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.

Insured's Interest

The stake or financial interest that an insured person has in the safety and preservation of the covered object against loss or damage.

Fire Insurance Policy

A contract between an insurer and policyholder that provides coverage against fire damage to property or goods.