A Low FICO Score

question 90

Multiple Choice

A low FICO score

• A)is a good credit score.
• B)can cost you quite a bit when you get a mortgage loan.
• C)may result in a credit card rate half the rate of that paid by those with a high FICO score.
• D)is the only factor the lender considers when determining whether to give you credit.

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Definitions:

Straight-Line Method

A depreciation approach assigning a consistent depreciation expense amount to an asset throughout its operational lifespan.

Estimated Residual Value

The anticipated market value of an asset at the end of its useful life.

Depreciated

Refers to the reduction in the recorded cost of a fixed asset in a systematic manner over its useful life.

Patent Impairment

Refers to the decrease in the value of a patent, often due to technological advances, legal issues, or changes in market demand.