Which of the following is a characteristic of a Consumer Report?

A Consumer Report is defined as a written or oral communication that contains information about a consumer's credit history, character, general reputation, personal characteristics, or lifestyle, which is produced by a consumer reporting agency. This definition encompasses a wide range of information that can be used for various purposes, such as evaluating credit applications or insurance underwriting.

The correct choice highlights that the report can be communicated in both written and oral forms, making it versatile. Additionally, it emphasizes that the information is sourced from a reporting agency, which is a crucial aspect of consumer reports as they are compiled and disseminated by specialized entities that collect and analyze consumer data.

The other options present limitations or incorrect interpretations of what constitutes a Consumer Report, such as restricting it solely to oral communication or to business evaluations, neither of which captures the full scope of what is included in a Consumer Report. Furthermore, while consumer approval might be relevant in some contexts, it is not a prerequisite for the existence of a consumer report, which is designed to provide information that can be independently verified by third parties.