Answered

Question 1 (Multiple Choice Worth 5 points)
(02.01 LC)
A credit card is an example of a(n)
A. prepaid card
B. mobile payment
C. revolving loan
D. installment loan

Question 2 (Multiple Choice Worth 5 points)
(02.01 LC)
If you notice an error on a credit card billing statement, what should you do?
A. Ignore it, as it will likely correct itself.
B. Report it to the credit card issuer as soon as possible.
C. Call your bank to resolve the issue.
D. Wait until the next billing cycle to see if it corrects.



Answer :

GinnyAnswer

Final answer:

Credit cards are short-term loans from credit card companies that need to be repaid. They do not represent actual money but facilitate transactions.


Explanation:

Credit cards are a form of short-term loan from the credit card company to the cardholder. When a purchase is made using a credit card, the credit card company transfers money to the seller, and the cardholder is required to repay that amount later. It is important to note that a credit card does not represent actual money but rather a loan that needs to be repaid.


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