Banzai Plus (Acctg. Ch. 1-7): Questions With Expert
Verified Answers
Paying a loan off in installments, rather than one lump sum. Right Ans -
Amortize
A request submitted to your insurance provider to help pay for covered
Right Ans - Claim
Car insurance that protects against damage that isn't caused by a collision.
Right Ans - Comprehensive Coverage
A number assigned to an individual that quantifies their ability to use and pay
back credit. Right Ans - Credit Score
The amount of money you're responsible for paying before your insurance
company will begin to cover claims. Right Ans - Deductible
A deduction that legally allows you to lower the amount of taxable income you
made in a year. Right Ans - Exemption
The abbreviation for annual percentage rate. Right Ans - APR
A budgeting method where you record your earnings twice: once in your
account and once in your budget. Right Ans - Double Entry Accounting
A type of auto insurance that protects against damage costs accrued by the
policyholder. Right Ans - Collision Coverage
A calculation that divides the debt you have by the amount of money you
make to produce a percentage that helps lenders decide your ability to pay
back a loan. Right Ans - Debt-to-income Ratio
A detailed list of the factors contributing to your credit score, including open
accounts, debt-to-income ratio, and payment histories. Right Ans - Credit
Report
Verified Answers
Paying a loan off in installments, rather than one lump sum. Right Ans -
Amortize
A request submitted to your insurance provider to help pay for covered
Right Ans - Claim
Car insurance that protects against damage that isn't caused by a collision.
Right Ans - Comprehensive Coverage
A number assigned to an individual that quantifies their ability to use and pay
back credit. Right Ans - Credit Score
The amount of money you're responsible for paying before your insurance
company will begin to cover claims. Right Ans - Deductible
A deduction that legally allows you to lower the amount of taxable income you
made in a year. Right Ans - Exemption
The abbreviation for annual percentage rate. Right Ans - APR
A budgeting method where you record your earnings twice: once in your
account and once in your budget. Right Ans - Double Entry Accounting
A type of auto insurance that protects against damage costs accrued by the
policyholder. Right Ans - Collision Coverage
A calculation that divides the debt you have by the amount of money you
make to produce a percentage that helps lenders decide your ability to pay
back a loan. Right Ans - Debt-to-income Ratio
A detailed list of the factors contributing to your credit score, including open
accounts, debt-to-income ratio, and payment histories. Right Ans - Credit
Report
