Chapter 6 - Chapter 6 Review Questions True/False 1. 2. 3....

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Chapter 6 Review Questions True/False 1. Using credit is the ideal way to provide for financial emergencies. 2. Having a checking account tells a creditor that you have some experience in managing your own funds. 3. A debt safety ratio of 10% would generally be a signal of financial trouble ahead. 4. The Wage Earner Planner allows debtors to keep their assets. 5. The required monthly payment on an open account will be the larger of a minimum dollar amount or a specified percentage of the balance. 6. The most popular travel and entertainment credit card is Diners Club. 7. College alumni organizations could sponsor an affinity credit card. 8. A credit applicant will be granted credit only after establishing a complete file at the local credit bureau. 9. The more credit cards one has, the better one’s credit score. 10. Generally, finance charges are compared only on the unpaid balance from previous months’ purchases. Multiple Choice 1. is a benefit of borrowing. a. The ability to buy expensive goods while spreading the payments over time.
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This note was uploaded on 08/28/2009 for the course BUS ACG2021 taught by Professor Yost during the Spring '08 term at W. Florida.

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Chapter 6 - Chapter 6 Review Questions True/False 1. 2. 3....

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