Because of the Financial Crisis That Began in 2008, by the End

question 38

Multiple Choice

Because of the financial crisis that began in 2008, by the end of 2009:

• A)unemployment was in excess of 15 percent
• B)many homeowners owed more money on their mortgage loans than the their homes were worth
• C)home mortgage foreclosure rates and personal and business bankruptcies were rapidly declining as the recovery accelerated and strengthened
• D)over 500 banks in the U.S.had already failed with over 2,000 more being considered financially weak
• E)all of the above are true

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Definitions:

Credit Terms

Conditions under which credit will be extended to a borrower, including the amount of credit, interest rate, and repayment schedule.

FOB Shipping Point

A term used in shipping contracts to indicate that the buyer is responsible for the cost of transporting the goods from the shipping point.

Invoice Amount

The total sum of money requested by a vendor from a purchaser for goods delivered or services provided.

Merchandise

Goods that are bought and sold in any business, particularly in retail.