If You Use a Credit Card to Make Purchases, You

question 37

True/False

If you use a credit card to make purchases, you should make a strong effort to pay off the balance in full each month.

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Definitions:

Fixed Assets

Long-term tangible assets used in operations and not expected to be converted to cash in the short term, such as buildings and machinery.

Accumulated Depreciation

The cumulative depreciation expense recorded for an asset from the time it was brought into service.

Current Market Values

The present value of an asset or company based on what it could be sold for in the current market.

Replacement Costs

The current cost of replacing an asset with a new one of similar kind and quality at current prices.