Under the Equal Credit Opportunity Act, for Which of the Following

question 26

Multiple Choice

Under the Equal Credit Opportunity Act, for which of the following is it illegal for a bank to discriminate against borrowers?

• A)The applicant's income
• B)The applicant's credit history
• C)The applicant's national origin
• D)The applicant's job history
• E)A civil judgement against the applicant

---

Definitions:

Journal Entries

Records that note the details of financial transactions in accounting, following the double-entry bookkeeping method.

Significant Influence

The power to participate in the financial and operating policy decisions of an investee, but not control them, often associated with ownership of 20% to 50% of voting stock.

Cost Method

An accounting method where investments are recorded at their acquisition cost.

Journal Entries

The method by which transactions are recorded in the company's accounting records with a debit and credit entry.