Which of the Following Is True of an Open-End Credit

question 65

Multiple Choice

Which of the following is true of an open-end credit transaction?

• A) An open-end transaction gives a debtor the option to pay in installments.
• B) An open-end transaction includes a personal customer loan or a student loan.
• C) An open-end transaction is for a limited time period.
• D) An open-end transaction must be in writing.

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Definitions:

Forecast Demand

The process of estimating the quantity of a product or service that consumers will purchase in the future.

Level Production

A strategy that maintains a consistent production rate, regardless of fluctuating demand, to stabilize operations and minimize costs.

Chase Strategy

A demand-driven approach to workforce and production level management where output matches the demand pattern directly.

Aggregate Planning

A process in operations management aimed at determining the optimal production levels, inventory levels, and workforce levels to meet expected demand.