Identify a True Statement About Credit Cards

question 69

Multiple Choice

Identify a true statement about credit cards.

• A) Money is immediately withdrawn from your account when you make a purchase using a credit card.
• B) Credit cards are solely issued to people who have a specific amount of savings in their retirement account.
• C) Many credit cards offer perks, such as discounts on certain products, extended warranties on purchases, or frequent-flier miles.
• D) Credit card companies do not charge an annual fee from cardholders if the card remains unused for at least 120 days.

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Definitions:

Operations

The day-to-day activities necessary for a business to function, including production, sales, and administration.

Adjusted Cost

A financial figure that has been modified to take into account specific factors or changes, such as depreciation or returns.

Operations

The daily operations required to manage a business, such as production, sales, and administrative tasks.

T-Accounts

A tool used in accounting to represent general ledger accounts, showing debits on the left side and credits on the right side.