Which of the Following Is Not an Essential Requirement That

question 6

Multiple Choice

Which of the following is not an essential requirement that must be satisfied for a credit contract to be regulated by the National Credit Code?

• A)The lender is a commercial credit provider.
• B)The lender has the right to impose charges for providing credit.
• C)The credit is wholly or predominantly for personal,domestic or household use.
• D)The debtor is a natural person or a registered proprietary company.

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Definitions:

Transfer Price

The price at which goods and services are traded between departments within the same company or between subsidiaries, often used for budgeting and tax purposes.

Responsibility Center

A unit within an organization tasked with specific duties and responsibilities, where performance is measured based on predetermined financial and operational metrics.

Profit Center

A profit center is a segment or division within a company that is responsible for generating its own revenue and profit, evaluated separately for assessing its performance.

Decentralized

A structure in a business or organization where decision-making authority is distributed among various levels or locations rather than concentrated at the top.