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:

Invoice

An itemized bill showing the list of goods sold or services provided, their prices, and the total amount to be paid.

Credited

To add a sum of money to an account, or to acknowledge someone's contribution to something.

Payment

The transfer of money from one party to another in exchange for goods, services, or to fulfill a legal obligation.

Account

A record or statement of financial expenditure and receipts relating to a particular period or purpose.