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3 years ago

Which of the following is true of both paying with a check and paying with a debit card?

2 answers:

8 0

The correct option is A.
Both paying with a check and paying with a debit card is accepted by most business as means of payment. The two methods allows you to draw money from your account to settle your funds needs.
Although, both means can be used to pay for purchases, there are some basic differences between the two method. For instance, a PIN is needed for you to utilize your debit card, but check does not required this. Also, an overdraft check can be drawn from a bank, but with debit card, you can only spend the money you have in your account.

Delvig [45]3 years ago

6 0

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Checks are the method of withdrawn the money from the personal bank account.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 take out from the bank account directly.

Justification for the correct and incorrect answer:

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

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

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

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

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In both methods, the money can be withdrawn directly out of a bank account, as explained above.

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

brainly.com/question/1373941

3. Learn more about the federal reserve bank

brainly.com/question/9417688

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.

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why was slavery more successful than other labor systems in meeting the labor needs of the colonial america market economy

kogti [31]

Answer:

Cheap & effective

Explanation:

this source of labor was easily abusable and by having people you don't need to pay and spend barely anything on feeding them it makes it easier to build the USA. I don't agree with the USA being founded on this but other countries were doing this so the USA did it also.

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3 years ago

The faculty member on my study abroad trip to Costa Rica has traveled there many times and is quite knowledgeable about the coun

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Answer:

B. Expert power

Explanation:

Based on the information provided regarding this scenario it can be said that the faculty member was using Expert Power. Expert Power is defined as the use of expert knowledge in order to get a subordinate to follow an instruction or order. Which in this specific scenario, the faculty members unique knowledge and experiences regarding Costa Rica allowed the other faculty members to look to him for guidance when dealing with topics revolving around Costa Rica.

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3 years ago

Mark Johnson saves a fixed percentage of his salary at the end of each year. This year he saved $2,000. For each of the next 5 y

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Answer:

The correct answer is:

$17,437.28

Explanation:

First of all, let us lay out the particulars that will aid us in our calculations:

Amount saved in year 1 = $2000

Number of years saved in total = 6 years

annual rate of savings increase = 10% increase on the amount for that year to the next year

Annual return on investment = 13%.

Next, let us calculate the 10% increase in savings from years 2 to 6.

Year 1 investment = $ 2000

Year 2 investment = Year 1 saving + 10% of year one saving

hence, investment 2 saving = 2000 + (10/100 × 2000) = 2000 + (0.1 × 2000)

Year 2 investment = 2000 +200 = $2,200.

Year 3 investment = year 2 saving + (0.1 × year 2 saving) = 2200 + (0.1 × 2200)

year 3 investment = 2200 + 220 = $2,420

Year 4 investment = 2420 + (0.1 × 2420) = 2420 + 242 = $2,662

Year 5 investment = 2662 + (0.1 × 2662) = 2662 + 266.2 = $2928.2

Year 6 investment = 2928.2 + (0.1 × 2928.2) = 2928.2 + 292.82 = $3,221.02

Next, let us create a table to show the total amount for each year.

Note, to determine the 13% annual investment return on each year:

13% = 13/100 = 0.13. So, we will multiply the investment for each year with 0.13 to get the annual investment. It is shown hence:

Year Investment (I) ($) Annual return (AR) ($) Total amount (I + AR) ($)

1 2000 260 2260

2 2200 286 2486

3 2420 314.6 2734.6

4 2662 346.06 3008.06

5 2928.2 380.67 3308.87

6 3221.02 418.73 3639.75

Total 17,437.28

Therefore, at the end of 6 years mark would have $17,437.28 (approx. $17,437)

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3 years ago

It is said that in a perfectly competitive market, raising the price of a firm's product from the prevailing market price of $17

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Answer:

could likely result in a notable loss of sales to competitors

Explanation:

In the case of the perfect competitive market wheen the price of the firm is increased from $179 to $199 as compared to the prevailing market price so this means that there should be the loss with respect to the sales for the competitors or rivalrs as this would result the firm to lose its overall shares to its rivalry

Therefore the above statement should be considered true

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3 years ago

During the Great Depression there were a number of federal programs which brought electricity to people in rural areas of the Mi

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Answer: option A: More competition for jobs in those areas are witnessed when federal programs provided more electricity in rural areas of the Midwest and South.

Explanation:

In the time of the Great Depression, President Roosevelt has passed the Rural Electrification Act (REA) in 1935 as part of the New Deal execution amendment. Through the beneficial act of supplied quantity of electricity units, the rural areas of the Midwest and South got the fine chance to expand the production of goods and services which covered the expenses of the cost of production.

Agriculture is the primary occupation of those areas, the electricity supply helped them to produce more agricultural products and also it supported Agro-based industries. The installation process are initiated and all farmers got loan advances by the cooperative societies.

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