Ask Question
BusinessBusiness
30 April, 19:15

True or False? A finance charge is a cost for the convenience of borrowing money.

+4
Answers (1)
  1. 30 April, 20:37
    0
    True. A finance charge is a cost for the convenience of borrowing money.

    Finance charge is usually encountered in credit card billing. Majority of finance charges are charged when credit card holder does not pay his or her outstanding balance before the due date.

    To avoid having a finance charge, one must always pay his or her credit card balance before the due date. Always pay the total amount due. Any amount not paid after the due date will be the basis for the computation of the finance charge.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “True or False? A finance charge is a cost for the convenience of borrowing money. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
An agent takes an individual disability income application, collects the appropriate premium, and issues the prospective insured a conditional receipt. the next step the insurance company will take is to:
Answers (1)
Frank lives in an area that experiences frequent thunderstorms. What precautionary measure should he adopt? A. protect telephone lines from voltage spikes B. keep his system in a warm room C. carry out an annual system backup D.
Answers (1)
What is the dirty price of a bond? the bond's price less an adjustment for changes in interest rates the bond's price based only on the bond's yield the bond's price based only on coupon payments the bond's actual cash price
Answers (1)
The table below contains data for country A for the year 2010. Household purchases of durable goods $1293 Household purchases of nondurable goods $1717 Household purchases of services $301 Household purchases of new housing $704 Purchases of capital
Answers (1)
Ski Master Company pays weekly salaries of $18,000 on Friday for a five-day week ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Wednesday.
Answers (1)
New Questions in Business
Divine Apparel has 2,200 shares of common stock outstanding. On October 1, the company declares a $0.50 per share dividend to stockholders of record on October 15. The dividend is paid on October 31. Required: a.
Answers (1)
Which of the following is not part of the fraud triangle? A. Perceived opportunity B. Realization C. Rationalization D. Perceived pressure
Answers (1)
When the rate of inflation is equal to the interest rate on beth's deposit, the purchasing power of her depositrises over the course of the year?
Answers (1)
A. Credit scores reflect how likely individuals are to repay their debts. B. Credit scores range from the low 300's to the mid 800's. C. Each person has three credit scores. D. All of the above.
Answers (1)
Which of the following is not a characteristic of intangible assets? (a) They lack physical existence. (b) They are not financial instruments. (c) They are long-term in nature. (d) They are all subject to amortization.
Answers (1)
Home » Business » True or False? A finance charge is a cost for the convenience of borrowing money.
Sign Up Forgot Password?