15. The earned income credit is a refundable credit. True False
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15. The earned income credit is a refundable credit.
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- Describe the concept of non interest bearing on loan.33 .The portion of the selling price paid by the customer at the time of purchase is called ________. a. Mortgage b. Amortization c. Down payment d. Installment loanExplain the determinants of credit olicy variables. 2. Explain the hotives for the extension of the rade credit.
- There are two costs associated with extending credit; one is potential lost interest income also known as opportunity cost. What is the other cost?Discuss creditworthiness and its relation to the 5 C's of credit.6. Open account credit provides a debtor with a predetermined line of credit and a flexible payback period. Which of the following is an example of open account credit? i. Personal Loan ii. Overdraft i. Charge card iv. Education loan A. i and ii B. i,i and ii C. ii and ii D. i,ii,i and iv
