Credit Use Increases Future Buying Power

question 96

True/False

Credit use increases future buying power.

---

Definitions:

Penalty

A punishment imposed for breaking a law, rule, or contract which often involves paying a fine or undergoing some form of restraint.

Implied Powers

Powers not explicitly stated but are considered necessary for fulfilling the expressly granted powers of an authority or government body.

Incorporated

refers to the process by which a business becomes a legally recognized entity that is distinct from its owners, providing benefits like liability protection and tax advantages.

Corporation Name

The legal name under which a corporation is registered to conduct business.