Which of the Following Is One of the Key Provisions

question 19

Multiple Choice

Which of the following is one of the key provisions of the Credit Card Accountability,Responsibility,and Disclosure Act of 2009?

• A)Lenders can issue credit cards to those under age 21 without any objections.
• B)Interest rates,with some exceptions,cannot be raised in the first year.
• C)Credit card issuers can charge interest on bills paid on time.
• D)Credit card companies can increase the annual percentage rate on all existing account balances.

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Definitions:

Wholesale Nursery

A business specializing in growing plants in bulk for sale primarily to retailers, landscapers, and other businesses, rather than directly to the public.

Retail Outlets

Stores or shops that directly sell goods or merchandise to consumers.

Seasonal Nature

The characteristic of certain processes, businesses, or industries that experience regular and predictable changes that recur every calendar year.

Cash Cycle

The cash cycle is a period between the outlay of cash for the purchase of inventory and the receipt of cash from customer sales, measuring the efficiency of a company's cash management.