How Will Having a Credit Score of 575 Impact Your

question 67

Multiple Choice

How will having a credit score of 575 impact your application for new credit?

• A) You will likely be approved for new credit.
• B) You will likely be rejected for new credit.
• C) It will not affect your application.
• D) You may be approved but charged a high interest rate.

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Definitions:

Income Statement Columns

Sections in an income statement that organize and display revenue, expenses, and net income over a specific period.

Adjusted Trial Balance

A list of all accounts and their balances after adjusting entries are made, used to verify the equality of debits and credits.

Financial Statement Column(s)

Categories or headings under which financial data is organized and presented in financial statements to provide insights into a company's financial health.

Net Income

The amount of profit left over after all expenses, including taxes and cost of goods sold, have been subtracted from total revenues.