The Best Way to Maintain Your Credit Standing Is To

question 94

Multiple Choice

The best way to maintain your credit standing is to:

• A)carry no credit cards
• B)pay all credit card invoices within 120 days
• C)repay your debts on time
• D)cancel any cars with outstanding balances
• E)if the balance is high and you cannot pay, claim your card was lost and misused by a 3^rdparty

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Definitions:

Perpetual Inventory System

An accounting system that records inventory transactions in real time, immediately affecting the inventory account with each purchase or sale.

Gross Method

An accounting method for recording purchases of inventory with no immediate recognition of discounts; discounts taken are recorded as income.

Merchandise

Goods that are bought and sold in the course of business, typically in a retail or wholesale setting.

Perpetual Inventory System

This method of accounting instantly documents inventory sales or purchases through computerized point-of-sale systems along with enterprise asset management software.