Which Federal Law Regulates the Use of Credit Reports,requires the Deletion

question 67

Multiple Choice

Which federal law regulates the use of credit reports,requires the deletion of obsolete information,and gives consumers access to their file?

• A)Truth in Lending Act of 1969
• B)Fair Credit Billing Act of 1975
• C)Equal Credit Opportunity Act of 1975
• D)Fair Credit Reporting Act of 1971
• E)Fair Debit Collection Practices Act of 1978

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Definitions:

Notes to The Financial Statements

Supplementary information provided alongside the financial statements, offering detailed explanations of the figures, accounting policies, and other relevant data to aid in interpretation.

Net Income

The amount of money a business keeps after deducting all expenditures and taxes from its overall revenue.

Average Number

A mathematical concept that represents the central or typical value in a set of numbers, calculated by dividing the sum of all values by the count of numbers.

Current Assets

Assets owned by a company that are expected to be converted into cash, sold, or consumed within a year or within the operating cycle.