The Consumer Credit Counseling Service

question 139

Multiple Choice

The Consumer Credit Counseling Service

• A) Aids families with serious debt problems by helping them to manage their money better and set up a realistic budget.
• B) Is a consolidation firm that will manage bills for a percentage of the total payment due.
• C) Provides counseling, usually for a fee.
• D) Is a program to wipe out your debts within two years.
• E) All of these are correct.

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Definitions:

Accounts Receivable

Funds that clients or customers owe to a company for products or services already provided but have yet to be paid for.

Partnership Agreement

A legal document that specifies the rights, responsibilities, and distribution of profits and losses among partners in a business partnership.

Salary Allowances

Salary allowances refer to the specific amounts granted to employees over their basic salary for various purposes, such as housing, transportation, or medical expenses.

Income Statements

A financial statement that shows a company's revenues and expenses over a specific period, leading to net profit or loss.