which of the following is a credit management decision?
a. Purchasing a used car.
b. investing your savings in a stock market
c. obtaining a student loan to attend college
d. putting money into your retirement account
C. Obtaining a student loan to attend college.
The credit management decision among the given options is:
c. Obtaining a student loan to attend college.
The credit management decision among the options provided is obtaining a student loan to attend college.
To identify the credit management decision, we need to understand what credit management entails. Credit management is the process of granting credit, setting the terms of credit, and collecting payments from customers. It involves decisions related to lending money, borrowing money, and managing credit effectively.
Now, let's analyze the options given:
a. Purchasing a used car: While purchasing a car involves financial decision-making, it is not directly related to credit management. Buying a used car usually involves either paying in full upfront or financing the purchase with an auto loan.
b. Investing your savings in the stock market: Investing in the stock market involves making investment decisions to grow your wealth. It does not have a direct association with credit management.
c. Obtaining a student loan to attend college: This option directly relates to credit management as it involves the decision to borrow money through a student loan for the purpose of pursuing higher education. The individual will be responsible for managing repayment terms, interest rates, and maintaining good credit standing.
d. Putting money into your retirement account: This option is more focused on personal financial planning and saving for retirement. It does not involve credit management decisions.
Therefore, option c. obtaining a student loan to attend college is the correct answer as it aligns with the concept of credit management.