Paying off a credit card with savings will have what effect on net worth?
A)Increase
B)Decrease
C)No effect
D)Insufficient data

Name: Paying off a credit card with savings will have what effect on net worth? A)Increase B)Decrease C)No effect D)Insufficient data
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Question

Quizplus · Accepted Answer

Paying off a credit card with savings shifts value from one asset (savings) to reduce a liability (credit card debt), leaving net worth unchanged.

Paying Off a Credit Card with Savings Will Have What