The Credit Card Accountability, Responsibility, and Disclosure (CARD) Act established fee caps for cards. Card fees cannot total more than ________ of the initial credit limit

A) 25 percent
B) 40 percent
C) 45 percent
D) 60 percent

Answer: A

Business

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Deferred gross profit on installment sales is generally reported as

A. a contra revenue account.. B. a current liability. C. a contra asset account. D. a deduction from gross profit.

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A product with a low perceived value is most likely to ________

A) fall within the fair value zone on a value map B) fall below the fair value line on a value map C) have a high market share D) have a low market share E) have delighted customers

Business