Multiple Choice
According to the Boston Consulting Group (BCG) matrix, a 'Star' organization is characterized by which combination of market share and market growth?
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1. Introduction to Accounting
Types of Accounting
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Which of the following is a major expense associated with home ownership?
A
Monthly rent payments
B
Mortgage interest payments
C
Car loan payments
D
Credit card annual fees
Verified step by step guidance1
Understand the context of the question: The problem is asking about major expenses associated with home ownership. This requires identifying costs directly tied to owning a home.
Eliminate irrelevant options: Monthly rent payments are associated with renting, not owning a home. Car loan payments and credit card annual fees are unrelated to home ownership.
Focus on the relevant option: Mortgage interest payments are a significant expense for homeowners. This is the interest charged on the loan taken to purchase the home.
Clarify the concept of mortgage interest: Mortgage interest is calculated based on the loan's principal amount and interest rate. It is typically paid monthly along with the principal repayment.
Conclude that mortgage interest payments are the correct answer, as they are directly tied to the financial responsibilities of home ownership.
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