Choose the One Most Appropriate Answer for Each

question 9

Multiple Choice

Choose the one most appropriate answer for each.
-assets that are in cash or are readily convertible to cash in a few days

• A)APR
• B)cash value
• C)credit report
• D)credit scoring
• E)equity
• F)exempt transactions
• G)Fair Credit Reporting Act
• H)Federal Consumer Credit Protection Act
• I)finance charge
• J)illiquid assets
• K)liquid assets
• L)loan-to-value ratio
• M)redlining
• N)Regulation Z
• O)right to rescission
• P)settlement funds
• Q)subprime loans
• R)Truth-in-Lending Act
• S)TILSRA
• T)trigger term

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Definitions:

Cash

Money in the form of bills or coins; the most liquid asset available.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered but not yet paid for, represented as an asset on the balance sheet.

Unearned Revenues

Liabilities recognized when a company receives payment for goods or services yet to be delivered or performed.

Debit

An accounting entry that results in either an increase in assets or expenses or a decrease in liabilities, equity, or income.