Finance Charges on Personal Credit Cards Are Considered Interest and Are,therefore,deductible

question 107

True/False

Finance charges on personal credit cards are considered interest and are,therefore,deductible.

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Crosswalk

A designated part of a road at which pedestrians have the right-of-way to cross, often marked with lines.

Statute Violation

An act or omission that contravenes a law formally enacted by a legislative body.

Implied Assumption

An unstated understanding that forms the basis of an agreement or decision, not explicitly detailed but considered as understood by all parties involved.

Known Risk

A risk that is identified, assessed, and understood by individuals or organizations involved in an activity or decision.