Credit Cards _____

question 45

Multiple Choice

Credit cards _____.

• A)are all about the same
• B)all charge annual fees
• C)often allow cash advances
• D)rarely charge late payment fees

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Definitions:

U.S. Standards

Guidelines or norms established in the United States for various activities or products, often referring to quality and safety criteria.

Principles-Based

An approach focusing on underlying principles as opposed to strict compliance with detailed rules, often used in regulation and accounting.

Benchmark

A standard or point of reference against which the performance of securities, investments, or funds can be measured.

FASB

The Financial Accounting Standards Board, an independent organization responsible for establishing accounting and financial reporting standards for companies and non-profit organizations in the United States.