To Which of the Following Transactions Does the National Credit

question 15

Multiple Choice

To which of the following transactions does the National Credit Code apply?

• A)A retailer who allows their customer to pay for goods and services on credit.
• B)A creditor who offers short term credit where the creditor's fees and charges are less than 5% of the loan and the interest rate is less than 24%
• C)An employer who offers his employee a loan.
• D)A creditor who offers a housing loan.

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Definitions:

Taxpayers

Individuals or entities that are required to pay taxes to a government body, based on their income, property, or purchases.

Free Schooling

Education provided without charge to students, typically funded by the government.

Opportunity Cost

The penalty of missing potential gains from other paths by choosing a certain option.

College Expenses

The costs associated with attending college, including tuition, fees, books, and living expenses.