You Just Received a Credit Card Application

question 144

Multiple Choice

You just received a credit card application.Which of the following are included with this application?

• A)Minimum interest charges
• B)Annual percentage rate for purchases
• C)Penalty fees
• D)Method used to calculate balance
• E)All of these

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Definitions:

Time Charge

A billing method where a service provider charges a client based on the amount of time spent on a particular task or project.

Time And Material Pricing

A pricing method where a project is billed based on the actual time spent and the materials used.

Body Shop

Typically refers to a repair shop specializing in the repair and finishing of automobile bodies.

Cost-Plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to a product's total cost.