Which of the Following Is Not an Example of Revolving

question 98

Multiple Choice

Which of the following is not an example of revolving credit?

• A)a line of credit.
• B)a credit card loan.
• C)overdraft protection.
• D)charge cards.
• E)automobile loans.

---

Definitions:

Accounts

Records summarizing financial transactions, reflecting the financial condition and operations of an entity.

Article 9

A section of the Uniform Commercial Code dealing with secured transactions involving personal property.

Personal Property

Any movable property that is not considered real property, such as vehicles, electronics, and furniture.

Collateral

Assets pledged by a borrower to secure credit or a loan, which can be seized in case of default.