One Disadvantage of Having Credit Cards for Personal Use Is

question 62

Multiple Choice

One disadvantage of having credit cards for personal use is that

• A) they offer no protection if they are stolen.
• B) they are less convenient than other forms of credit.
• C) many companies have a policy that prevents employees from having both personal credit cards and credit cards for business use.
• D) they can make it easy to pile up a large amount of debt quickly.

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Definitions:

Wholesaler

A wholesaler is an intermediary entity in the distribution process that buys bulk quantities of goods from manufacturers and sells them to retailers or professional buyers.

Consumers

Individuals or groups that purchase goods and services for personal use.

Service Company

A business entity that provides professional services or expertise instead of physical goods.

Net Income

The total earnings of a company after subtracting all expenses, taxes, and costs from its total revenue.