Possible Sources of Relevant Information About a Credit Applicant Include

question 40

Multiple Choice

Possible sources of relevant information about a credit applicant include ____.

• A) financial statements submitted by the applicant
• B) credit reporting organizations
• C) The U.S. Department of Commerce
• D) the applicant's financial statements and credit reporting agencies

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Definitions:

Capitalism

An economic system in which productive resources are owned privately and goods and resources are allocated through market prices.

Exchange

The act of giving one thing and receiving another (especially of the same type or value) in return, often referring to the trading of goods, services, or currencies.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors.

Specialization

The process of concentrating on and becoming expert in a particular subject or skill within production or labor.