Distinguish between 'serviceability assessment' and 'affordability assessment'.

• A. Serviceability assesses ability to repay based on income, commitments, and rate scenarios; affordability considers the borrower's living costs and overall financial wellbeing.
• B. Serviceability is about living costs; affordability is about credit history.
• C. Serviceability and affordability are the same concept under different names.
• D. Serviceability focuses on property value; affordability focuses on interest rate.

Answer: (A)