Question

What responsibility does a consumer have with respect to the maintenance of financial records?

Answer 1

Answer:

Option D

Explanation:

Financial record include a data about the spending and earning where each transaction can be traced back.

Now to maintain the record, the consumer should ensure to use some traceability medium so that he can give a correct information based on some data logged.

One medium would be the use of credit cards, where every purchase is automatically logged in the system that might be handy for future reference

Answer 2

Answer:

to provide timely payments to the various creditors

Explanation:

In order to maintain the financial records of a consumer, the consumer have the obligation to provide timely payments to various creditors with the aim to offset debt over a period of time

As a consumer or borrower, you have certain responsibilities to the companies issuing you credit. Upholding these responsibilities is your obligation to your creditors and also helps you maintain a good credit score.