The First Line of Defense Against Bad Debt Losses Is

question 107

True/False

The first line of defense against bad debt losses is to have a financial institution extend loans to credit-seeking customers.

---

Definitions:

Behavioural Component

Refers to the actions or reactions of an individual in response to external or internal stimuli.

Achievement Motivation

The drive or desire to accomplish goals, excel, and attain success as defined by the individual or society.

Immediate Gratification

The desire to experience pleasure or fulfillment without delay or deferment, often prioritizing short-term rewards over long-term outcomes.

Competitive Occupations

Jobs or careers where individuals or organizations compete against others for resources, recognition, or achievement.