Which of the Following Is True of an Open-End Credit

question 65

Multiple Choice

Which of the following is true of an open-end credit transaction?

• A) An open-end transaction gives a debtor the option to pay in installments.
• B) An open-end transaction includes a personal customer loan or a student loan.
• C) An open-end transaction is for a limited time period.
• D) An open-end transaction must be in writing.

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Definitions:

Cash

Money in the form of coins or notes that is used to conduct transactions, pay debts, or serve as a medium of exchange.