Multiple Choice
Which of the following resources is most useful for finding detailed information about a particular company?
69
views
1. Introduction to Accounting
Useful Information
Struggling with Financial Accounting?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Which of the following is a benefit of having a good credit score?
A
Lower interest rates on loans and credit cards
B
Higher monthly loan payments
C
Increased likelihood of loan denial
D
Limited access to financial products
Verified step by step guidance1
Understand the concept of a credit score: A credit score is a numerical representation of an individual's creditworthiness, based on their credit history. It helps lenders assess the risk of lending money to a borrower.
Recognize the benefits of a good credit score: A good credit score indicates that a borrower is reliable in repaying debts, which can lead to favorable financial opportunities.
Analyze the options provided: Lower interest rates on loans and credit cards, higher monthly loan payments, increased likelihood of loan denial, and limited access to financial products.
Evaluate each option: A good credit score typically results in lower interest rates on loans and credit cards because lenders view the borrower as less risky. Conversely, higher monthly loan payments, increased likelihood of loan denial, and limited access to financial products are associated with poor credit scores.
Conclude that the correct benefit of having a good credit score is 'Lower interest rates on loans and credit cards,' as it directly reflects the advantages of being seen as a trustworthy borrower.
3:16mWatch next
Master Fundamental Qualitative Characteristics with a bite sized video explanation from Brian
Start learningRelated Videos
Related Practice
Useful Information practice set
Problem sets built by lead tutorsExpert video explanations