Which of the Following Is the Best Definition of a 'Continuing

question 14

Multiple Choice

Which of the following is the best definition of a 'continuing credit contract'?

• A) A credit contract entered into to pay for goods or services provided by a supplier who referred the borrower to the credit provider.
• B) A credit contract in which multiple advances of credit are contemplated and the amount of available credit increases as the debt is reduced.
• C) A credit contract whereby the borrower gives the credit provider rights to assets owned by the borrower to secure repayment under a credit contract.
• D) A credit contract in which the credit provider is the borrower's employer and the loan is tied to the borrower's continued employment.

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Definitions:

Kilograms

A unit of mass in the metric system, equal to 1,000 grams or approximately 2.20462 pounds.

Ice Cream Cones

Edible waffle cones filled with ice cream, available in various flavors and sizes.

Range

The difference between the highest and lowest values in a dataset, indicating the dataset's spread.

Kilograms

A unit of mass in the International System of Units (SI), equal to 1000 grams.