All categories

2 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]2 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Checks are the method of withdrawn the money from the personal bank account.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In both methods, the money can be withdrawn directly out of a bank account, as explained above.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.

You might be interested in

At December 31, Gill Co. reported accounts receivable of $268,000 and an allowance for uncollectible accounts of $750 (credit) b

Andrei [34K]

Answer:

: $4,610

Explanation:

The allowance for uncollectible accounts should be 2% of accounts receivable. So first we wil find out the 2% of $268,000.

($268,000 x 2%) = $5,360

Then we will subtract the $750 allowance for uncollectible accounts before any adjustments.

$5,360 - $750 = $4,610

The amount of the adjusting entry for uncollectible accounts would be: $4,610.

4 0

2 years ago

Suppose the state of Wyoming passes a law that increases the tax on cigarettes. As aresult, smokers who live in Wyoming start pu

fomenos

Answer:

a. People respond to incentives.

Explanation:

Assuming the state of Wyoming passes a law that increases the tax on cigarettes thereby causing smokers who live in Wyoming to start purchasing their cigarettes in surrounding states.

Consequently, an increase in the tax on cigarettes altered the behavior of the smokers in Wyoming, it made them to purchase from neighboring states.

This illustrates or reflect the fact that people respond to incentives.

6 0

3 years ago

Which of the following is an advantage of consumer credit? a) It costs more than cash purchases. b) It can encourage customers t

forsale [732]

Answer:

The answer is D

Explanation:

7 0

2 years ago

An economist would be more likely to argue against reducing inflation if she thought that a. the central bank lacked credibility

Fantom [35]

Answer:

b. the central bank lacked credibility and if bonds were usually indexed for inflation.

Explanation:

Economics can be classified into two (2) categories, namely;

1. Microeconomics can be defined as the study of the effect of price and quantity levels through interactions between individual buyers and sellers in various markets.

Hence, it is focuses on analyzing or evaluating the decisions of consumers (buyers) and those of firms (sellers) such as methods of production, pricing; and the manner in which government policies affect those decisions.

2. Macroeconomics can be defined as the study of behaviors, performance and factors that affect the entire economy. Hence, it focuses on aggregate phenomena such as price level, economic growth, Gross Domestic Product (GDP), inflation, unemployment and national income levels with respect to the central bank, demand or supply shocks, government policies, aggregate spending and savings.

Inflation can be defined as the persistent general rise in the price of goods and services in an economy at a specific period of time.

Generally, inflation usually causes the value of money to fall and as a result, it imposes more cost on an economy.

When this persistent rise in the price of goods and services in an economy becomes rapid, excessive, unbearable and out of control over a period of time, it is generally referred to as hyperinflation.

In conclusion, an economist is more likely to argue against a reduction in inflation if she thought that the central bank lacked credibility and if bonds were usually indexed for inflation.

8 0

2 years ago

Ed is a 30 year old veterinary technician. Physical exam reveals a height of 5 foot 9 inches, and a weight of 210 pounds. Accord

lianna [129]

Answer:

BMI = 31.18 kg/m²

According to BMI, this patient is diagnosed as Obese.

Explanation:

BMI known as body mass index is taken from a person height and weight. BMI is a person's weight in kilograms divided by the square of height in meters. BMI is usually expressed in kg/m².

Mathematically ,

BMI = weight(kg)/height(m²)

we have to convert the weight and the height to the required units.

converting pounds to kg

2.2 pounds = 1 kilogram

210 pounds = ?

cross multiply

210/2.2 = 95.50 kilograms

converting foot to inches and to meter.

1 foot = 12 inches

5 foot = ?

12 × 5 = 60 inches

60 inches + 9 inches = 69 inches

1 inches = 0.0254 meters

69 inches = ?

69 × 0.0254 = 1.7526 meters

using the formula

BMI = weight(kg)/height(m²)

BMI = 95.50/(1.75)²

BMI = 95.50/3.0625 kg/m²

BMI = 31.1836734694 kg/m²

BMI = 31.18 kg/m²

6 0

2 years ago