The Fair Credit Reporting Act (FCRA)requires That Credit Bureaus Remove

question 13

Multiple Choice

The Fair Credit Reporting Act (FCRA) requires that credit bureaus remove obsolete bankruptcy filings from credit reports.A bankruptcy filing is considered to be obsolete after

• A) 7 years.
• B) 8 years.
• C) 13 years.
• D) 14 years.

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Definitions:

Cost Drivers

Factors that cause a change in the cost of an activity, used to assign overhead costs in activity-based costing systems.

Vocational School

An educational institution that provides specialized training and education targeted toward particular careers or trades.

Flexible Budget

A flexible budget adjusts expenses based on changes in actual revenue or other activity levels, allowing for more accurate financial planning.

Cost Drivers

Factors that cause a change in the cost of an activity, such as machine hours, labor hours, or material size.