Question

question 1
which of the following is a disadvantage to using credit?

• having goods and services while paying for them later
• can cost more than paying cash
• being able to pay for emergencies
• not having to carry cash

question 2
which of the following is not recorded on your credit report?

• late payment history
• a history of credit accounts with names of creditors
• your income
• the name of your employer

Explanation:

Question 1

To determine the disadvantage of using credit, we analyze each option:

• "Having goods and services while paying for them later" is an advantage (delayed payment for immediate use).
• "Can cost more than paying cash" is a disadvantage because credit often involves interest or fees, making the total cost higher than cash payment.
• "Being able to pay for emergencies" is an advantage (provides financial flexibility in emergencies).
• "Not having to carry cash" is an advantage (convenience).

To identify what is not on a credit report, we recall credit report components:

• "Late payment history" is recorded (affects credit score).
• "A history of credit accounts with names of creditors" is recorded (shows credit usage).
• "Your income" is not recorded on a credit report (credit reports focus on credit - related activity, not income).
• "The name of your employer" may be recorded (some credit reports include employment information).

Answer:

B. Can cost more than paying cash

Question 2