The Act That Prohibits Certain Types of Discrimination in the Granting

question 10

Multiple Choice

The Act that prohibits certain types of discrimination in the granting of credit is the:

• A) Fair Credit Reporting Act
• B) Equal Credit Opportunity Act
• C) Real Estate Settlements Procedures Ace
• D) Fair Housing Act

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Definitions:

Operating Activities

Day-to-day actions that are involved in running a business, such as selling products, managing costs, and paying employees.

Cash Dividend

A disbursement issued to shareholders from a firm's profits, often in cash format.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders’ equity at a specific point in time, providing a snapshot of the firm's financial condition.

Direct Method

A technique used in cash flow statements to show actual cash inflows and outflows from operating activities, as opposed to the indirect method.