Which of the Following Statements Is True Regarding the Fair

question 91

Multiple Choice

Which of the following statements is true regarding the Fair Credit Reporting Act?

• A)It requires that consumers investigate and report any inaccuracies to all nationwide CRAs.
• B)It provides CRAs with 60 days to investigate cases of inaccurate information.
• C)It requires that CRAs independently confirm information.
• D)It requires that all information reported by CRAs be accurate.

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Definitions:

Contribution Margin

The difference between sales revenue and variable costs of a product, indicating how much contributes towards covering fixed costs and generating profit.

Machine Minutes

A measure of production time that indicates how long a machine has been operating to produce goods.

Industrial Fiber

Materials used in the production of goods in industries, often characterized by their strength and durability.

Refined Sugar

Processed sugar that has been purified and crystallized from raw sugar.