Personal and Business Finance Prep Exam With All Correct Answers 2024.
Unit of Account - Answer It allows us to place a monetary value on goods and services. Means of Exchange - Answer It allows us to trade. Store of Value - Answer It allows us to use it in the future as it retains its value. Legal Tender - Answer It is a legally recognized form of payment. Interest Rate - Answer The proportion of an amount that is charged as interest to the borrower. Debt - Answer Money owed. Credit Rating - Answer A score given to individuals on how likely they are to repay debts based upon their previous actions. Bankrupt - Answer When and individual or organization legally states its inability to repay debts. Solvent - Answer The ability to meet day-to-day expenditure and repay debts. Cash - Answer Notes and coins in a wide range of denominations Debit Card - Answer Issued by banks with payments for goods and services being deducted directly from a current account.
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- Subido en
- 13 de marzo de 2024
- Número de páginas
- 4
- Escrito en
- 2023/2024
- Tipo
- Examen
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