Which of the Following Items Is Not Required to Be

question 310

Multiple Choice

Which of the following items is not required to be disclosed by a creditor as a part of the statement given a debtor?

• A) service, activity, carrying and transaction charges
• B) loan fees and points
• C) portion of interest charges to cover creditor expenses
• D) charges for credit life and credit accident and health insurance
• E) fees for credit reports and appraisals in non-real estate transactions

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Definitions:

Non-executive Director

A member of a company's board of directors who is not part of the executive team, providing oversight and valuable perspective without managing day-to-day operations.

Related Party

A person or entity that is related to the entity that is preparing its financial statements.

Controlling Investment

A significant ownership interest in a company, providing the ability to exercise control over its operations and policies.

Financial Statements

Documents that present an organization's financial activity and condition, including balance sheet, income statement, and cash flow statement.