Paying Off a Credit Card with Savings Will Have What

question 16

Multiple Choice

Paying off a credit card with savings will have what effect on net worth?

• A)Increase
• B)Decrease
• C)No effect
• D)Insufficient data

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Definitions:

Strategic Philanthropy

A form of philanthropy where donors seek to achieve the greatest possible impact through their charitable activities by using data, research, and careful planning to address systemic issues.

Charitable Gift Annuity

A financial arrangement in which an individual donates assets to a charity in exchange for a fixed income stream for a specified term or for life.

Gifts-In-Kind

Non-monetary items of tangible personal property or services provided to an organization as donations.

Corporate Giving

financial or in-kind contributions made by companies to non-profit organizations or communities to support social, environmental, or cultural projects.