If Consumers Do Not Tag Information in a Meaningful Way

question 6

True/False

If consumers do not tag information in a meaningful way, the encoding process results in errors.

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Definitions:

Agents

Individuals or companies authorized to act on behalf of another person or company in commercial transactions.

Payment Default

The failure to make a required payment on a loan or other debt obligation by the due date.

Loan Covenants

Agreements between a borrower and a lender that the borrower must comply with to remain in good standing.

Principal and Interest

The original amount of a loan (principal) combined with the cost of borrowing that money (interest).