Question

Which of the following is true of both paying with a check and paying with a debit card? A)Both are accepted by most people and most businesses B)A personal identification number must be anytime check or debit cards are used C)When I used,both take money directly out of a bank account
D)Both work like a loan from your bank that you can pay back later

Answer 1

I would say the answer is option B. When you pay using check or a debit card, you have to enter your PIN or your signature to validate the purchase. This is done in order to secure your money in that bank so that no one can easily access it. Hope this helps.

Answer 2

The option C is correct.

The statement when used, both take money directly out of a bank account is true of both paying with a check and paying with a debit card

Further Explanation:

Debit card:

The debit card is the card issued by the banks to transact the money in and out from the bank account of the individual. The individual saves their income in the bank account when he needs money for an emergency takes it from the bank account by using the debit card.

Checks:  

Checks are the method of withdrawing the money from the personal bank account. The individual saves their income in the bank account when he needs money for an emergency takes it from the bank account by using the checks.

In both debit cards and checks, the money can be taken from the bank account directly.

Justification for the correct and incorrect answer:

A.

Both are accepted by most people and most businesses: This option is incorrect.

Not all people readily accept the checks; most people prefer cash instead of checks, as checks take three days to change it into cash. Most businesses also do not accept the checks because sometimes they need instant cash for production purposes.

B.

A personal identification number must be anytime debit cards or checks are used: This option is incorrect.

Checks cannot be used anytime because,at night, banks are not opened. Checks can be used between the timings of banks to withdraw the money.

C.

When used, both take money directly out of a bank account: This option is correct.

In both methods, the money can be withdrawn directly out of a bank account, as explained above.

D.

Both work like a loan from your bank that you can pay back later: This option is incorrect.

Checks and debit cards are issued to those people who have saved in the bank account. This statement is not true; it is not a loan. The individual can take out their own money. The individual does not take any loan.

Learn more:

1. Learn more about credit card

brainly.com/question/1218973

2. Learn more about loan types

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3. Learn more about the federal reserve bank

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Answer details:

Grade: Middle School

Subject: Accounting

Chapter: Money and Banking

Keywords:paying with check, debit card, most people, personal identification number, individual, saves, income, emergency, money directly, taken.