The Equal Credit Opportunity Act Makes It Illegal for Creditors

question 64

Multiple Choice

The Equal Credit Opportunity Act makes it illegal for creditors to deny credit to individuals on the basis of ________.

• A)Race,religion,color,sex,marital status,or age
• B)Race,religion,national origin,color,or sex
• C)Race,national origin,color,sex,marital status,or age
• D)Race,religion,national origin,color,sex,or age
• E)Race,religion,national origin,color,sex,marital status,or age

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Definitions:

Dividends

Payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders.

Investment

The action of deploying resources (such as capital) with the expectation of generating an income or profit.

Cost Method

is an accounting approach used for recording investments, where the investment is recorded at its acquisition cost and adjustments are made for dividends or interest earned and changes in value are not recognized until sold.

Trading Securities

Trading securities are investments in debt or equity that are purchased with the intention of selling them in the near term to realize short-term gains.