If You Borrow Money on a Single-Payment Loan and Discover

question 41

Multiple Choice

If you borrow money on a single-payment loan and discover that you cannot pay it back when it is due, you should:

• A) purchase a credit card.
• B) unsecure the loan.
• C) pay a prepayment penalty.
• D) negotiate a rollover.
• E) file for bankruptcy.

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Definitions:

Taxation

The process by which a government imposes charges on citizens or residents to generate revenue for public expenses and services.

Representation

The act of speaking or acting on behalf of someone or the depiction of someone or something in a particular manner.

Procedural Justice

The fairness in the processes that resolve disputes and allocate resources.

Distributive Justice

concerns the fair allocation of resources and rewards among individuals in a society or group, based on principles of equity.