3. Write the difference between debit cards and credit cards.

Q: Which is better to have? Accounts receivable or notes receivable? And why?

A: Accounts receivable are current assets which represent amounts to be collected from customers for…

Q: Which one of the four methods of payments creates an accounts receivable?   Select one:   a.…

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: Which of the following are the instruments of money market? Select one a Certificate of deposits…

A: Money market fundamentally alludes to a part of the monetary market where monetary instruments with…

Q: Recognize the link between money and credit? Explain

A: Money is defined as the financial medium used to facilitate transactions between parties. Money…

Q: All of the following are fees for using a credit card except

A: In the given problem we need to identify the fee which is not charged by the Credit Card Companies.

Q: 3. Write the difference between debit cards and credit cards.

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Define the following concepts? a. Petty cash funds. b. Escrow payment. c. Chart of accounts.

A: a. Petty cash funds:A petty cash fund is a special fund operated by a petty cash custodian to pay…

Q: What is the difference between a credit card and a debit card? O A credit card is loaned money, plus…

A: Debit card is the facility given by the banks to their customers so that they can withdraw cash from…

Q: Which one of the following is not considered as cash? a. Credit card. b. Debit Card c. Bank…

A: Debit card is used to make online payment.

Q: On a bank reconciliation. Deposit in transit is.....?

A: Bank reconciliation is a method of reconciliation of balance in bank book with the total of balance…

Q: 1. What is a compensating balance?

A: Hi student Since there are multiple questions, we will answer only first question.

Q: The entry to record collection of trade receivables under cash basis of accounting is A. debit to…

A: Under cash basis of accounting only cash transections are recorded such as cash collection, Cash…

Q: 3. Should a note receivable from a related party be included in the balance sheet with notes…

A: Balance sheet:   Balance sheet is a summary of assets, liabilities, and equity account that reports…

Q: Assuming HST is not charged, what will a POS Summary result in a credit to: * Bank O A/R O A/P O…

A: Point of sale (POS) is place where  a customer made  payment for goods or services. Point of sale…

Q: АCTIVITIES 1. Differentiate Checking account from savings Account.

A: A checking account is an account that gives the facility of deposit and withdrawal. A checking…

Q: Which one of the following is considered as cash? a. Post Dated Cheques. b. Certified Cheques. c.…

A: Cash and cash equivalent is the part of current assets which are reported on the balance sheet of a…

Q: Which of the following entries records the payment of an account payable? a.debit Cash; credit…

A: Accounts payable (liability) is decreasing. Cash (asset) is decreasing.

Q: What are some of the assets and liabilities associated with credit cards?

A: Introduction: A credit card can be defined as a small piece of card which is offered by banks or any…

Q: Which one of the following is considered as cash? a. Credit card. b. None of these c. Certified…

A: Cash of the business means cash in hand and all other short term instruments or objects that can be…

Q: A "receipt on account" results in a credit to: An A/P account Bank An A/R account Capital

A: Receipt on account means, cash received from previously made credit sales.

Q: On a bank reconciliation, the adjusting entry to record interest carned should be: OA. O B. OC. O D.…

A: Bank reconciliation statement is the statement which is prepared to reconcile cash balance as per…

Q: Choose the correct answer: 5. Which of the following is considered effective? a. Certificates of…

A: Money Market Checking Accounts: A money market account, sometimes known as a money market deposit…

Q: Summarize the procedures to follow when accepting credit cards, bill-to-accounts, cash, checks, and…

A: There are different methods through which the customers make the payment to the company like for the…

Q: how is credit check in advance technology is different from credit check in basic technology

A:

Q: Explain book debits and book credits, bank debits, and bank credits. What is proof of cash and its…

A: In books, all the debits and credits are related to assets, liabilities, revenue, and expenses.…

Q: What are some benefits to a business in accepting credit cards and debit cards?

A: Debit card: Debit card is an electronic card, which allows the debit card holders to pay cash…

Q: When cash is debited, a typical credit is to O Accounts receivable Withdrawals O Expenses O Accounts…

A: "We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Hi why is the net income on the credit side and not debit?

A: Net Income - Net Income is the result of the revenue over expense incurred by the company. It will…

Q: 4. Define the following bank reconciliation terms: Deposit in transit: Outstanding check:

A: Bank reconciliation is a statement which is prepared to reconcile the difference between bank…

Q: All of the following may be included in cash except   a. currency b. checking account balance c.…

A: Cash is defined as the checks, bills, bank balances and coins and it is also used for acquiring the…

Q: Debit telephone bill, credit ACcounts payable is

A: Correct Answer :- C Business Received telephone bill and it will be paid later.

Q: In which of the following transaction, bank account will be debited? O a. Purchased goods on cash O…

A: SOLUTION- Cash Deposit In To Bank is Simply Transfer the Cash From Location to Another , The Asset…

Q: Which of the following are the instruments of money market? Select one: a. All of the above b. None…

A: Following are the instruments of money market

Q: Distinguish among the following: (1) a general checkingaccount, (2) an imprest bank account, and (3)…

A: (1) A general checking account is the frequently used leading bank account of the companies, through…

Q: What is the process of Borrowing with Credit Cards?

A: The credit card is a vital instrument to upsurge the buying power. The credit card facility aids to…

Q: How to entre a credit cards

A: How to entre a credit cards

Q: What is a credit note

A: Step 1 Credit note as the name depicts it generates some beneficiary status to some third party.

Q: Which of the following account is debited when account payable is converted into note payable?…

A: Liabilities have a credit balance, So when liabilities converted then they should be debited.

Q: The use of a debit card is similar to: Select one: O a. Using currency O b. Paying with a check O c.…

A: The main aim of the shops to earn profits from selling the products to the customers. The shops will…