With a Bank Credit Card, You Can Often Avoid Interest

question 99

Multiple Choice

With a bank credit card, you can often avoid interest charges if:

• A) the account balance is paid in full every month.
• B) at least half the account balance is paid every month.
• C) the minimum payment is made every month.
• D) the account is a revolving credit account.
• E) the account balance is below the credit limit.

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Definitions:

First Quarter

The initial three-month period in a fiscal year; often used in financial reporting and analysis.

Service Business

A type of business that provides intangible products or services to consumers, as opposed to selling physical goods.

Overhead

General, ongoing business expenses not directly attributed to creating a product or service, including rent, utilities, and insurance.

Direct Labor

Labor costs that are directly attributed to the production of goods, including wages for workers who manufacture a product or perform a service.