A Good Example of Open-End Credit Is

question 60

Multiple Choice

A good example of open-end credit is:

• A) the use of a bank credit card to make a purchase.
• B) a mortgage loan from a savings and loan institution.
• C) an automobile loan from a credit union.
• D) an installment loan from a furniture store.
• E) an installment loan for purchasing a major appliance.

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Definitions:

Effective Compensation System

A pay structure designed to attract, retain, and motivate employees while supporting the strategic goals of an organization.

Company Success

The achievement of a business in meeting its goals and objectives, which can include profitability, growth, and market share.

Organizations

Organizations are structured groups of people who work together to achieve common goals or fulfill a specific function.

Major Components

Essential elements or parts that constitute the foundation or structure of a system, process, or object.