A Personal Line of Credit Is a

question 11

Multiple Choice

A personal line of credit is a

• A)credit arrangement that has no extra costs.
• B)prearranged loan for a specified amount that you can use by writing a special check.
• C)credit arrangement that has no specific repayment plan.
• D)synonym for installment cash credit.
• E)synonym for single lump-sum credit.

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Definitions:

Payroll Taxes

Charges assessed on employers and their workers, based on a percentage of the compensation paid to employees.

Worker

An individual who performs services or labor, usually in exchange for compensation, within an economy.

Employer

An individual or organization that hires and pays people to perform specific jobs.

Public Finance

The study of government revenue, expenditure, and adjustment of government budgets and its effect on the economy.