Which of the Following Is Generally Not Part of the Process

question 15

Multiple Choice

Which of the following is generally not part of the process of opening a credit account?

• A)Filling out a credit application
• B)Appraisal of assets
• C)Having your credit history investigated
• D)Credit scoring of your application

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Definitions:

Straight-Line Method

A method of calculating depreciation of an asset whereby the cost is evenly distributed over its useful life, resulting in a constant annual depreciation expense.

Consolidated Financial Statements

Financial reports that aggregate the financial position and operating results of a parent company and its subsidiaries, presenting them as a single economic entity.

Residual Value

The estimated value that an asset will have at the end of its useful life.

Gross Profit

The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.