Which One of the Following Is an Advantage of Using

question 82

Multiple Choice

Which one of the following is an advantage of using credit?

• A)potential bankruptcy
• B)spending beyond your budget
• C)funding an emergency expense
• D)committing future income to pay for current purchases
• E)incurring interest charges

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Definitions:

Limited Partner

An investor in a partnership who has limited liability to the extent of the amount of their investment and does not participate in the day-to-day management of the business.

Fiduciary

A person or organization that acts on behalf of another person or persons to manage assets, exhibiting a high standard of care, loyalty, and honesty.

Limited Partner

An investor in a partnership whose liability is limited to the amount of their investment, not involved in day-to-day management.

Management Powers

The authority vested in the directors, officers, or managers of an organization to make decisions and conduct the operations of the business.