All of the Following Are True About the CPSC, except

question 47

Multiple Choice

All of the following are true about the CPSC, except:

• A) that it promotes companies to sell safe products
• B) that it requires manufacturers and retailers to notify it of any hazardous products
• C) that it provides for heavy fines for the noncompliance of firms with standards
• D) that it is directly responsible for increasing the sale of more products

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Definitions:

Loan

Money borrowed that is expected to be repaid with interest.

Compounded Annually

Interest calculation method where the interest is added to the principal sum once a year, so each year’s interest earnings are based on the principal plus the accumulated interest.

RRSP Contributions

Money placed into a Registered Retirement Savings Plan, intended to serve as retirement savings and provide tax benefits in Canada.

First Contribution

The initial investment or deposit made into a financial instrument or savings account.