In a Credit Card Agreement, the _____ Is the Interest

question 85

Multiple Choice

In a credit card agreement, the _____ is the interest expense charged on a credit card.

• A) late fee
• B) annual fee
• C) annual percentage rate
• D) surcharge

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Definitions:

Accountant-Client Privilege

A legal privilege that keeps confidential communications between an accountant and their client protected from disclosure without the client's consent.

Testify

To give a formal statement of fact or evidence in a court of law, or in a legislative or administrative proceeding.

Disclaimer

A declaration intended to exclude legal responsibility and avoid the possibility of civil litigation for specific actions or neglect.

GAAP

Generally Accepted Accounting Principles, which are a collection of commonly-followed accounting rules and standards for financial reporting.