Frank bought furniture worth $5,230 for his new house and used his credit card to make the payment. However, because of financial constraints, he was unable to clear the outstanding amount within the bank's stipulated time. This resulted in the bank charging Frank an additional $27. This additional amount that Frank needs to pay to the bank is referred to as the _____.
A. rent for balance
B. charge-off
C. late fee
D. credit pay
Answer: C
You might also like to view...
The Incoterm for the situation when carriage and insurance are paid to a specified destination, while risk passes to the buyer when the goods are handed to the carrier, is
A. FAS. B. CIF. C. DAT. D. CIP. E. CPT.
All law dealing with securities is on the federal level
Indicate whether the statement is true or false
Through joint ventures, firms can directly acquire the assets and competencies of other firms.
Answer the following statement true (T) or false (F)
In order to estimate the average electric usage per month, a sample of 81 houses was selected, and the electric usage was determined. Assume a population standard deviation of 450-kilowatt hours. The standard error of the mean is
a. 450 b. 81 c. 500 d. 50