Which of the following statements is true regarding non-installment credit?
A) The borrower has a longer time to repay.
B) Monthly payments of principal and interest must be paid.
C) The borrower has an unlimited amount of credit.
D) Credit is usually issued for 30 days or less.

Question

Quizplus · Accepted Answer

Non-installment credit typically refers to credit that must be repaid in full within a short period, often 30 days or less, rather than over a longer term with monthly installments.

Which of the Following Statements Is True Regarding Non-Installment Credit