In Reviewing Your Payment History on a Credit Report,a 30

question 7

Multiple Choice

In reviewing your payment history on a credit report,a 30 in January means

• A) The previous 30 months were paid as agreed
• B) Your payment was 30 to 59 days late in January
• C) $30 is your minimum payment for the month of January
• D) You had a balance of $30 on that card in January

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Definitions:

Retained Earnings

The portion of a company's profit that is held back and not distributed to shareholders as dividends, to be reinvested in the business or used to pay off debt.

Contractual Loan Restrictions

Clauses in a loan agreement that limit the borrower's actions in certain ways to reduce the lender's risk.

Preferred Dividends

Payments made to preferred shareholders before any dividends are distributed to common shareholders, often at a fixed rate and with priority over common dividends.

Retained Earnings

The portion of a company's profits not distributed as dividends to shareholders, but rather reinvested in the business or held as reserves.