What Step Can You Take If Your Credit Application Is

question 106

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 the reasons 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:

Future Value

The value of an investment at a specific date in the future, considering compounding interest or investment returns.

Accretion Expense

Accretion expense relates to the gradual increase in the liability amount in an accretion bond or the process of asset value increase over time.

Operating Item

Expenses or revenues that arise from the primary operations of a company.

Asset Retirement Obligation

A legal obligation associated with the retirement of a tangible long-lived asset, where the liability is recognized in the period in which it incurs.