What Step Can You Take If Your Credit Application Is

question 108

Multiple Choice

What step can you take if your credit application is denied?

• A) Sue the credit rating agency.
• B) File a complaint against the merchant.
• C) Ask why you were denied credit.
• D) Reapply for credit once 30 days have passed.
• E) Borrowers do not have any rights provided by law.

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Definitions:

Debt-Equity Ratio

A ratio demonstrating the relative amounts of shareholders' equity versus debt financing in a corporation's asset base.

Fixed Assets

Tangible assets that are held by an entity for long-term use and are not expected to be converted into cash in the short term.

Plug Variable

A financial modeling technique where an unknown variable is calculated by ensuring that multiple financial statements are in balance, often used to solve for desired financing or investment levels.

Pro Forma Statement

A financial statement based on hypothetical assumptions or projections, often used in planning and decision-making processes to forecast future financial positions or results.