Question
A document containing an individual's financial information focusing on payment of their credit obligations over time Thin File Net Worth Credit Report Credit
Solution
4.1
(190 Votes)
Geoffrey
Master ยท Tutor for 5 years
Answer
C
Explanation
The question refers to a document that compiles an individual's financial information, specifically dealing with the payment history of their credit obligations over a certain period. This corresponds to the broadly accepted definition of a Credit Report. A Credit Report is a detailed breakdown of an individual's credit history, prepared by a credit bureau. Acquiring loans, making funds investments, etc., can utilize these reports to ascertain the individual's creditworthiness i.e., assess their risk as a borrower. Thin File refers to a person's credit file with few credit accounts or a short credit history. Net Worth is the calculation of a person's assets subtracting their liabilities. A Credit is a contractual agreement in which a borrower receives an amount of money or commodity now and repays the lender at a certain date(could be plenty types of credits), however, the context asks for a compilation of financial information related to credit not itself is the credit, hence, the answer "Credit Report".