a form of bank service which automatically takes money out of the checking account at this point of sales is called a

1 answer:

7 0

A debit card is a form of bank service which automatically takes money out of the checking account at this point-of-sales.

A debit card is called as such because whenever transactions are paid using debit card, every time the card is swiped, the amount swiped will automatically be debited from the checking account. The debit card is limited to the cash that is available in the checking account.

You might be interested in

If you were to illegally reproduce for a profit a likeness or exact replica of a copyrighted logo, you would commit

tamaranim1 [39]

Answer:

Explanation:

Copyright infringement is a broad term that refers to any kind of harm to someone's copyright, which includes copying a company's logo for profit. A logo, like any other visual product, is the legal possession of an individual or company, therefore it is illegal to copy it for your own business goal or profit.

5 0

3 years ago

True or false<br><br> Macroeconomics deals with the behaviour of individual economic units.

VashaNatasha [74]

Answer:

false. it deals with ecomonics as a whole. it's in the name dude

6 0

2 years ago

Read 2 more answers

Describe the obama administration's strategy for holding the may 2009 health care reform meeting with the president and all inte

anzhelika [568]

<span>The Obama administration's line of thinking was likely to afford transparency with regard to healthcare. It is likely that the meeting among representatives from hospitals, the insurance industry, medical device and pharmaceutical companies, labor and physicians at the White House was to discuss major steps being taken to lower health care costs across the board.</span>

3 0

3 years ago

Some Human Services are reimbursed through the client’s health insurance plan. Which profession in this cluster is most likely t

Dominik [7]

D:mental Heath counselor

Hope that helps!

3 0

3 years ago

At December 31, 2020, Oriole Company has outstanding noncancelable purchase commitments for 37,600 gallons, at $3.24 per gallon,

adell [148]

Answer:

Unrealized holding Gain or Loss - Income (Dr.) $20,304

Estimated Liability on purchase commitments (Cr.) $20,304

Explanation:

Oriole Company has agreed to purchase Gallons of raw material for a defined price of $3.24 per gallon. The price is reduced on December 31, 2020. The Difference between the prices of gallons is recorded as unrealized gain on debit and liability is credited.

$3.24 - $2.70 = $0.54 * 37,600 Gallon = $20,304

Unrealized holding Gain or Loss - Income (Dr.) $20,304

Estimated Liability on purchase commitments (Cr.) $20,304

The raw material is purchased at the price of $2.70 per gallon and the 36,000 gallons are purchased. The journal entry to record this transaction is,

Raw material (Dr.) $76,896

Estimated liability on purchase commitments (Dr.) $20,304

Cash (Cr.) $97,200

6 0

3 years ago