Under the National Credit Code,consumers Cannot Be Required

question 11

Multiple Choice

Under the National Credit Code,consumers cannot be required:

• A)to mortgage personal property,such as a motor vehicle used for work purposes.
• B)to enter a written contract (unless it is approved by the government department or agency responsible for enforcing the code).
• C)to mortgage their house or place of residence.
• D)to mortgage their right to their wages or superannuation.

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Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, with shareholders entitled to vote on corporate matters and receive dividends.

Net Income

The amount of total revenues that exceeds total expenses of a company during a specific time period.

Earnings Per Share

A profitability metric that measures the amount of net income earned per share of a company's outstanding stock.