If You Purchase a Good on Credit, You Are

question 121

Multiple Choice

If you purchase a good on credit, you are:

• A)exchanging a financial asset for another financial asset.
• B)incurring a real liability to acquire a real asset.
• C)incurring a financial liability to acquire a real asset.
• D)exchanging a financial liability for a real liability.

---

Definitions:

Life-events

Significant occurrences in a person's life which can have profound effects on their psychological and emotional state.

Psychosocial

Pertaining to the interrelation of social factors and individual thought and behavior.

Financial Consultant

A professional who provides expert advice on managing finances, including investments, taxes, retirement planning, and insurance.

Sense of Well-being

A feeling of health, happiness, and prosperity, often considered as a holistic understanding of one’s physical, psychological, and social health.