Multiple Choice
Which underlying accounting concept explains the use of level premiums in insurance accounting?
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1. Introduction to Accounting
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Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Once you turn 18, you should regularly check your credit report in order to:
A
Guarantee approval for all future loans.
B
Avoid paying any interest on your credit cards.
C
Monitor for identity theft or errors that could affect your credit score.
D
Increase your credit limit automatically.
Verified step by step guidance1
Understand the importance of checking your credit report: Regularly reviewing your credit report helps you monitor for identity theft or errors that could negatively impact your credit score.
Recognize that checking your credit report does not guarantee loan approval or automatically increase your credit limit. These outcomes depend on your creditworthiness and financial behavior.
Learn that paying interest on credit cards is determined by your payment habits and the terms of your credit agreement, not by checking your credit report.
Focus on the correct reason for checking your credit report: It allows you to identify and address inaccuracies or fraudulent activities that could harm your financial standing.
Develop a habit of checking your credit report at least once a year or more frequently if needed, using free resources like AnnualCreditReport.com to ensure accuracy and protect your credit score.
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