The Information in Your Credit Report Is Used by the Credit

question 160

Multiple Choice

The information in your credit report is used by the credit bureau to calculate your:

• A)debt to equity ratio.
• B)FICO credit score.
• C)debt payment to income ratio.
• D)liquidity ratio.
• E)long term capitalization ratio.

Comprehend the legal principles regarding the capacity to enter into contractual agreements.

Understand the concepts of income redistribution and its impact on societal welfare.

Identify the arguments for and against income redistribution.

Differentiate between various theories of justice (Utilitarian, Rawlsian) regarding income distribution.

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Definitions:

Overapplied Overhead

Occurs when the allocated overhead costs exceed the actual overhead costs incurred, leading to a variance in accounting records.

Downstream Costs

Expenses incurred after the production phase, such as distribution and marketing costs, often associated with bringing a product to the market and selling it.

Product-Related

Pertaining to attributes, development, or improvements directly associated with physical goods.

Variable Costs

Costs that vary directly with the level of production or sales volume, such as materials and labor used in the production process.