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[DOCX File]socialsciences.dadeschools.net
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A disadvantage of using credit is impulse buying. 2. _____ Capital refers to a person’s assets. 3. _____ A steady employment record helps a person’s credit history. 4. _____ Installment credit usually allows a person to make additional purchases on an account. 5. _____ Using the 20-10 rule, a person making $40,000 a year after taxes should have no more . than $8,000 of outstanding debt ...
disadvantages to getting a business credit card

[DOCX File]Better Money Habits.com - Miami-Dade County Public Schools
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Read the following statements about debit and credit cards. Based on what you learned in the video, decide if the statement applies to a debit card, to a credit card, or to both cards. Put an X in the appropriate column. Then decide if the statement is a cost (disadvantage) or a benefit (advantage) when using that card. Use a (-) for costs and ...
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[DOC File]Chapter 1
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revolving consumer credit This does not involve a fixed number of payments to repay the loan in full. The loan offered by the above instalment loan schemes is non-revolving consumer credit. This involves a fixed number of payments to repay the loan principal by regular payments within the stated period. (ii) List one advantage and one disadvantage of using credit cards. (2 marks)
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[DOC File]Chapter 8 Managing Working Capital
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Credit terms are 30 days, but its debt administration has been poor and the average collection period has been 45 days with 0.5% of sales resulting in bad debts which are written off. A factor would take on the task of debt administration and credit checking, at an annual fee of 2.5% of credit sales. The company would save $30,000 a year in administration costs. The payment period would be 30 ...
credit card advantage and disadvantage

[DOCX File]uwaterloo.ca
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Credit Practice Questions. The three C’s of credit are: a)Character, capital and charity. b)Character, capacity and charity. c)Charity, capital and censor . d)Character, capacity and capital. e)Capital, capacity and conciliate. From the list below, pick an advantage of using credit to complete a purchase: a)Impulse buying. b)Overbuying. c)Financial Difficulties. d)Instant enjoyment. e)Cost ...
disadvantages to getting a business credit card

[DOC File]1 - Take Charge Today
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What is one disadvantage of using a credit card? It doesn’t seem like real money making it easy to overspend. You can use it to make online purchases. You can use it to rent a car. It is convenient and accepted almost everywhere. 18. Which credit card brand created the “Priceless” marketing campaign? Visa. MasterCard. American Express . Discover. 19. What factor has the biggest positive ...
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[DOC File]Chapter 5
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List two advantages and two disadvantages of using credit (borrowing money). What is the difference between closed-end and open-end (revolving) credit? Give a specific example of an inexpensive loan, a medium-priced loan, and an expensive loan. #6 on page 163. Use the ‘debt payments-to-income ratio (p. 165) to determine whether or not the following people can afford their prospective loans ...
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Chapter 05 Consumer Credit: Advantages, Disadvantages ...
Credit decreases the amount of money that will be available in the future. Bloom's: Knowledge Difficulty: Medium Learning Objective: 1 Topic: Consumer credit 7. (p. 144) A disadvantage of using credit is its use when making a hotel reservation. FALSE. Credit offers the convenience to make a hotel reservation.
credit card advantage and disadvantage

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Credit. Directions: Check whether the item is an Advantage or a Disadvantage of using credit. Advantage. Disadvantage. By simply having a credit card available, a person is likely to. spend 34% more than he or she might otherwise spend. Credit can allow you to take advantage of sales when you lack. cash to make purchases.
disadvantages to getting a business credit card

[DOCX File]Advantages and Disadvantages of Using Credit
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Advantages and Disadvantages of Using Credit. Allows consumers to purchase expensive items they would not otherwise be able to purchase with cash. If credit rating becomes poor, could impact their ability to get credit in the future. Allows use of goods and services before or while paying for them. If debts not repaid, credit may be damaged . Can be used to purchase a variety of goods and ...
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Which is a disadvantage of using credit