QT Collection Agency Calls Rob Several Times a Day, and Sometimes

question 32

Multiple Choice

QT Collection Agency calls Rob several times a day, and sometimes in the middle of the night, about an overdue bill that Standard Credit Company turned over to QT for collection. This is a violation of​

• A) ​no federal law.
• B) ​the Fair and Accurate Credit Transactions Act.
• C) ​the Fair Debt Collection Practices Act.
• D) ​the Truth-in-Lending Act.

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Definitions:

Profit Margin

A financial ratio that measures the percentage of revenue remaining after all expenses have been deducted from sales.

Net Income

A company’s remaining income after total revenue has had taxes, expenses, and costs deducted from it.

Equity Securities

Financial instruments representing ownership interest in a company, such as stocks, which may provide income through dividends.

Significant Influence

The power to participate in the financial and operating policy decisions of an investee, but not control them entirely, typically associated with ownership of 20% to 50% of voting stock.