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Personal Financial Planning 13th Edition by Lawrence J. Gitman Test Bank
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Personal Financial Planning 13th Edition by Lawrence J. Gitman Test Bank
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WITH ANSWERS
Personal Financial Planning 13th Edition by Lawrence J. Gitman Test Bank
Chapter 6Using Credit
TRUE/FALSE
- Using credit is the ideal way to provide for financial emergencies.
ANS: F PTS: 1 DIF: Easy OBJ: LO: 6-1
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Comprehension
- Saving is the preferred way to provide for financial emergencies.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-1
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Comprehension
- Paying only the minimum payment each time on a credit card usually enables one to pay off the balance fairly quickly.
ANS: F PTS: 1 DIF: Easy OBJ: LO: 6-1
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Comprehension
- One can be overusing credit even though he can afford to make minimum monthly payments on time.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-1
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Credit should not consistently be used for non-durable goods.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-1
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Credit cards with very low minimum balance requirements are in the consumers best interest.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-1
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Analysis
- One should not use credit to purchase food, clothing, and other non-durables, even if it is only for convenience and the balance will be totally paid upon billing.
ANS: T PTS: 1 DIF: Moderate OBJ: LO: 6-1
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Analysis
- Never adding up all ones bills is one of the signs that one may be headed for serious credit problems.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-1
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Comprehension
- Using more than 20 percent of ones take-home income to pay off consumer debt is one of the signs that one may be headed for serious credit problems.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-1
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Having a checking account tells a creditor that you have some experience in managing your own funds.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-2
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Always paying cash is helpful in establishing a high level of creditworthiness.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-2
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Analysis
- Having arranged and fully repaid a small loan should help improve creditworthiness.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-2
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Comprehension
- The purpose of a credit report is to evaluate the kind of risk you pose to the lender.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-2
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Credit report is routinely used to predict credit worthiness.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-2
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Paying a loan off much quicker than scheduled is one way to build a good credit rating.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-2
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- A debt safety ratio of 25% might be a signal of financial trouble ahead.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-2
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- A debt safety ratio of 5% would generally be a signal of financial trouble ahead.
ANS: F PTS: 1 DIF: Easy OBJ: LO: 6-2
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- It is safe, and often required, to give your Social Security number as a form of identification when using a credit card.
ANS: F PTS: 1 DIF: Easy OBJ: LO: 6-2
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- The most common forms of open account credit are bank credit cards and retail charge cards.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- The most common forms of open account credit are travel and entertainment cards.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Auto loans are an example of open-end credit since you can add to the debt when you purchase another vehicle.
ANS: F PTS: 1 DIF: East OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Comprehension
- A credit limit refers to the maximum amount the cardholder can owe the issuer at any point in time.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- The key to credit worthiness is to keep your debt safety ratio as high as possible.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-2
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Individuals with better credit ratings usually can secure higher credit limits.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Credit reports on individual borrowers are issued by credit unions reporting agencies.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Credit reports on individual borrowers are issued by credit card issuers.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Being late on credit payments only 2-3 times per year pay label you a late payer in your credit file.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- The required monthly payment on an open account will be the smaller of a minimum dollar amount or a specified percentage of the balance.
ANS: F PTS: 1 DIF: Challenging OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Analysis
- Bank credit cards represent the most common kind of open account credit.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Bank credit card cash advances will begin accruing interest charges immediately.
ANS: T PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Bank credit card purchases always begin accruing interest charges immediately.
ANS: F PTS: 1 DIF: Challenging OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Advantages of balance transfers can include lower interest rates and the convenience of consolidation.
ANS: T PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Analysis
- Balance transfers can be expensive, including fees and eventually high interest rates.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Analysis
- Bank credit cards often offer features such as buyer protection plans for a fee to all customers.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Rebate credit cards work best for those who use the rebates, charge a lot, and do not carry high monthly balances.
ANS: T PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Comprehension
- Generally speaking, the interest rates on credit cards are lower than any other form of credit.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- A revolving charge account requires the customers to pay off the debt 10 to 20 days after the billing date with no interest expense.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Thirty-day or regular charge accounts require the customers to pay off the debt 10 to 20 days after the billing date with no interest expense.
ANS: T PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Interest rates on credit cards tend to be lower than most other forms of consumer credit.
ANS: F PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Most organizations that issue credit cards have basically the same qualifications for card applicants.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Credit cards often have penalties for late payment and for exceeding credit limits.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Open account credit is a form of credit extended to a consumer in advance of any transaction.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- The most common method used by lenders to apply finance charges to credit cards is the average daily balance including new purchases method.
ANS: T PTS: 1 DIF: Challenging OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Nearly all credit cards have annual fees.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Credit card users can often avoid finance charges entirely by paying their total balances by the stated due date.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- The grace period on a credit card starts on the billing date and ends on the date the lender should receive the payment.
ANS: F PTS: 1 DIF: Challenging OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Analysis
- Secured credit cards require that the card holder puts up collateral in order to get the card.
ANS: T PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Student credit cards are structured much differently than regular credit cards.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Debit cards are a form of credit that is very convenient to use.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Debit cards look like credit cards, but they work like checks.
ANS: T PTS: 1 DIF: Easy OBJ: LO:6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Prepaid cards are a form of credit that is very convenient to use and do not charge a service fee.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Comprehension
- Prepaid cards are used to pay for things, with the purchase amount electronically deducted from the card.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Comprehension
- Revolving credit lines are often accessed by writing checks.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- An overdraft protection line of credit allows one to routinely bounce checks with little or no adverse consequences.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Comprehension
- Unsecured lines of credit provide tax advantages if you itemize deductions.
ANS: F PTS: 1 DIF: Challenging OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Analysis
- Unsecured lines of credit are easy to use and often use some form of collateral as default protection.
ANS: F PTS: 1 DIF: Challenging OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Analysis
- The proceeds of a home equity loan can be used for just about any purpose, and the interest paid is usually tax deductible.
ANS: T PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Comprehension
- One can lose his home if he does not repay his home equity line of credit.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Comprehension
- Home equity loans are one of the least expensive forms of consumer credit.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Comprehension
- For someone with a good credit rating, lenders will typically lend up to 100% of equity in a home using a home equity credit line.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-3
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- A credit applicant will be granted credit only after establishing a complete file at the local credit bureau.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- For a fee, credit bureaus can provide credit scores for prospective borrowers.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Credit bureaus provide information about prospective borrowers.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- One can and should check his credit bureau file regularly.
ANS: T PTS: 1 DIF: Moderate OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Application
- Credit bureau files often include information such as political and religious affiliations in addition to financial information.
ANS: F PTS: 1 DIF: Easy OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Credit scoring systems are often used by lenders to determine your creditworthiness.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Chapter 7 bankruptcies remain in your credit file for 7 years.
ANS: F PTS: 1 DIF: Challenging OBJ: LO: 6-6
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Your credit limit is determined by a number of factors, such as financial position, earning power, etc.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- A credit card users credit rating will be harmed if she pays only the minimum monthly payment on a credit card.
ANS: F PTS: 1 DIF: Challenging OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Analysis
- The more credit cards one has, the better ones credit score.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Analysis
- Generally, finance charges are computed only on the unpaid balance from previous months purchases.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Analysis
- The most common method of computing finance charges on a credit card is the average daily balance method including new purchases.
ANS: T PTS: 1 DIF: Moderate OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- The amount of finance charges one pays on a credit card depends only on APR and the amount one charges.
ANS: F PTS: 1 DIF: Challenging OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Analysis
- A womans income can legally be discounted when she applies for credit.
ANS: F PTS: 1 DIF: Easy OBJ: LO: 6-4
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- The intent of a Wage Earner Plan is to eliminate most of the debtors obligations.
ANS: F PTS: 1 DIF: Challenging OBJ: LO: 6-6
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Evaluation
- A Chapter 13 bankruptcy filing would result in the discharge of most of your debts.
ANS: F PTS: 1 DIF: Challenging OBJ: LO: 6-6
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Evaluation
- Families who have a source of income and who want to retain their assets above the protected amount would select Chapter 13 rather than Chapter 7 bankruptcy.
ANS: T PTS: 1 DIF: Challenging OBJ: LO: 6-6
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Evaluation
- The majority of persons filing bankruptcy file Chapter 7 bankruptcy.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-6
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- The Wage Earner Planner requires debtors to give up most of their assets.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-6
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Evaluation
- Before filing for bankruptcy, debtors should consider seeking the help of a credit counselor.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-6
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- Identity theft is a growing problem that could damage your credit rating.
ANS: T PTS: 1 DIF: Easy OBJ: LO: 6-6
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Knowledge
- It is recommended that you never give your credit card account number out over the phone.
ANS: F PTS: 1 DIF: Challenging OBJ: LO: 6-6
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Evaluation
- If you initiated the telephone call, it is okay to give your credit card account number when ordering/purchasing from major catalog houses, airlines, hotels, and so on.
ANS: T PTS: 1 DIF: Challenging OBJ: LO: 6-6
NAT: BUSPROG: Analytic skills STA: DISC: Capital Budgeting and Cost of Capital
KEY: Blooms: Evaluation
- Auto loans and mortgage loans are about equal in terms of their relative share of average household liabilities.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-1
NAT: BUSPROG: Analytic skills KEY: Blooms: Knowledge
- The majority of reduction in consumer indebtedness is due to home and consumer loan defaults.
ANS: T PTS: 1 DIF: Moderate OBJ: LO: 6-1
NAT: BUSPROG: Analytic skills KEY: Blooms: Knowledge
The decline in housing prices made it harder for households to refinance their mortgages.
ANS: T PTS: 1 DIF: Moderate OBJ: LO: 6-1
NAT: BUSPROG: Analytic skills KEY: Blooms: Analysis
Discount store and online sales have dropped in the aftermath of the recession.
ANS: F PTS: 1 DIF: Moderate OBJ: LO: 6-1
NAT: BUSPROG: Analytic skills KEY: Blooms: Knowledge
- After the Credit Card Act of 2009 was passed, late payments dropped but defaults increased.
ANS: F PTS: 1 DIF: Challenging&nbs
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