Obtaining a Small Loan, Even If You Don't Need One

question 49

True/False

Obtaining a small loan, even if you don't need one, and then repaying it promptly is a good way to establish credit.

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Definitions:

Customize Features

The ability or option to modify or personalize specific functionalities of a software or system to suit individual or business needs.

Accounts Payable

Amounts owed by a business to its suppliers or vendors for goods and services received but not yet paid for.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered but not yet paid for.

Account Balances

The amounts of money held in financial accounts at a specific point in time, reflecting the net result of all completed transactions.