Which of the Following Is Not True Regarding Revolving Open-End

question 113

Multiple Choice

Which of the following is not true regarding revolving open-end credit?

• A) Credit cards are an example of it.
• B) A specific maximum amount of credit is established.
• C) If the balance is not paid off over a period of months, a penalty is incurred.
• D) Interest is charged on the remaining balance each month.

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