Match the Following Terms with Their Definitions

question 54

Multiple Choice

Match the following terms with their definitions.
-Revolving charge

• A)Total of all payments minus amount financed
• B)Effective interest rate
• C)A payment process
• D)A revolving charge account
• E)Sum of daily balance divided by number of days in billing cycle
• F)Total of all monthly payments plus down payment
• G)Used in calculation of average daily balance
• H)Doesn't dictate interest rates
• I)Cash price minus down payment
• J)Used to calculate rebate of finance charge
• K)Purchase till maximum credit reached
• L)Initial cash payment

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Definitions:

Control Action

A process in which a control system responds to changes in measured variables by adjusting outputs to maintain desired conditions.

Distributive Control Systems

Distributive Control Systems are industrial automation systems where control functions are distributed throughout the system rather than centralized, enhancing flexibility and reliability.

Network Based

Pertaining to systems, processes, or applications that operate or communicate over a computer network.