Question

9 multiple choice 10 points what is a credit card? a) a card that allows you to withdraw money from your bank account b) a card that can only be used for cash transactions c) a card that allows you to borrow money up to a certain limit d) a card that can only be used for online shopping 10 multiple choice 10 points which of the following is an example of a financial contract? a) a receipt for a purchase b) a rental agreement for an apartment c) a menu at a restaurant d) a library card

Explanation:

• Question 9: A credit card allows borrowing money up to a limit. Option A is for a debit card. Option B is incorrect as credit cards are for various transactions. Option D is wrong as they can be used in - person too.
• Question 10: A rental agreement is a financial contract as it involves money (rent). A purchase receipt is just proof of a transaction. A menu is for food items and prices. A library card is for borrowing books.

Answer:

1. C. A card that allows you to borrow money up to a certain limit
2. B. A rental agreement for an apartment