Banking
True or false? The bank can ignore their credit policy if they want to.
False
What is secured credit?
Credit loans that requires collateral.
True or False. Accounts receivable aging reports shows when accounts receivables are due.
True
True or False? The bank doesn't care about your credit score.
False
What is closed end credit?
A loan for a specific amount that must be repaid by a specific date.
True or false. Instalment loans have no interest.
False
The bank is the Creditor or the Debtor?
Creditor.
Is School-to-business credit a real type of credit? Yes or no?
No
What is a finance charge?
The total amount paid by a borrower to a lender for the use of credit
The three C's of credit are what?
Capital, Capacity, Character.
What is business credit?
Credit granted to a business by a financial institution or a another company.
What is a credit Bureau?
A private firm that maintains consumer credit data and provides credit info. For businesses for a fee.
The 5 C's of banking are what?
Cash Flow, Capacity, Capital, Collateral, and Conditions.
What is trade credit?
A business granting a line of credit to another business.
What is principal?
The total amount of money borrowed.