____ Is a Benefit of Borrowing

question 109

Multiple Choice

____ is a benefit of borrowing.

• A) The ability to buy expensive goods while spreading the payments over time
• B) Providing payments that fit into a budget
• C) Having a permanent record of transactions
• D) Being able to purchase goods and services when checks are not acceptable
• E) All of these are benefits.

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Definitions:

Main Purpose

The primary aim or objective intended to be achieved by a plan, action, or project.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision; it represents the benefits that could have been received but were given up to take another course of action.

Medium Of Exchange

A device or mechanism designed to assist in the buying, selling, or exchanging of products among individuals or groups.

American Dollar

The official currency of the United States, also known as the USD or US Dollar.