The cost of credit reports would be included in the amount financed.

True

False

Finance charge equals total of all monthly payments minus amount financed.

True

False

APR cannot be calculated by use of tables.

True

False

Revolving charge accounts must be paid off completely by the end of the month.

True

False

A point is 1% of the amount of the loan.

True

False

The computer is the only tool needed in monitoring a business's financial condition.

True

False

Assets represent things of value owed by the business.

True

False

Land does not depreciate.

True

False

Vertical analysis cannot be done on a comparative statement.

True

False

The asset turnover is gross sales divided by total assets.

True

False