Which One of the Following Would Not Typically Be Closed-End

question 132

Multiple Choice

Which one of the following would not typically be closed-end credit?

• A) Home mortgage
• B) Installment loan to purchase new furniture
• C) Line of credit from your bank
• D) Automobile loan
• E) Single lump-sum credit loan due in 90 days

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Definitions:

Significant Want

A strong desire or need that is considered important or of great consequence.

After-Tax Profits

The net income a company remains with after all taxes have been deducted from its earnings.

Gross Margin

A company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage. It represents the proportion of each dollar of revenue that the company retains as gross profit.

Harvest Issue

A problem or challenge encountered during the collection or gathering of agricultural crops.