What Is Not a Type of Consumer Loan

question 100

Multiple Choice

What is not a type of consumer loan?

• A)Demand loans
• B)Auto loans
• C)Installment loans
• D)Mortgages
• E)Charge cards

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Definitions:

AMT

The Alternative Minimum Tax, a parallel tax system in the United States designed to ensure that individuals and corporations pay at least a minimum amount of taxes.

Small Corporations

Businesses typically characterized by a limited number of shareholders, assets, and revenues, and may qualify for certain tax benefits and simpler regulations.

Gross Receipts

The total amount received from all sources before any deductions or allowances, used as a measure of business size or taxation.

AMT Rate

The percentage at which the Alternative Minimum Tax is levied on income, designed to ensure that individuals pay a minimum amount of tax.