Which Option Is Designed for Long-Term Credit

question 24

Multiple Choice

Which option is designed for long-term credit?

• A)Credit cards
• B)Instalment accounts
• C)Open charge accounts
• D)Revolving charge accounts

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Definitions:

Depreciated

The process of allocating the cost of a tangible or physical asset over its useful life, reflecting the decrease in value over time.

Domestic Haven

A safe and comfortable home environment that offers refuge from the stresses and demands of the outside world.

Self-Sufficient

The ability to satisfy one's own needs without reliance on others.

Vocational Institute

An educational establishment that provides specialized training and instruction in particular trades or careers.