To Avoid the Financial Problems Associated with Excessive Credit Card

question 119

Multiple Choice

To avoid the financial problems associated with excessive credit card debt,you should:

• A)Pay off your credit card balance in full each month
• B)Use your credit card to pay for small purchases
• C)Take advantage of the cash advance feature
• D)Use a large number of credit cards
• E)Avoid getting help if you think you are in trouble

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Definitions:

Account

A record that summarizes financial transactions of a specific type, such as revenue, expenses, assets, or liabilities.

Credit

An accounting entry that increases a liability or equity account, or decreases an asset or expense account.

Increased

A term indicating that a numerical value, quantity, or financial metric has gone up from a previous measurement.

Account

Represents a specific financial record in bookkeeping that tracks the financial transactions of a particular aspect, such as expenses or revenues.