If You Are Denied Credit,your First Step Should Be To

question 41

Multiple Choice

If you are denied credit,your first step should be to:

• A)increase your income and decrease your spending.
• B)reapply for credit.
• C)hire an attorney and file a suit against the creditor.
• D)check your credit file at the credit bureau.
• E)sue the credit bureau that provided the negative information.

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Definitions:

Pricing

The act of determining the value that will be charged for goods or services offered by a business.

Gross Profit

The financial gain calculated by subtracting the cost of goods sold from total revenue.

Inventory

The total amount of goods and materials held in stock by a business, shop, or warehouse.

Administrative Expenses

Ongoing expenses associated with the general operation of a business, such as office supplies, salaries of non-sales personnel, and utilities.