What is the difference between a credit card and a debit card? O A credit card is loaned money, plus interest, whereas a debit card is linked to your bank account that contains your money. O A credit card is your money that is not loaned. A debit card is loaned money. None of the above.

Q: 2. Should you use a credit card when you can pay cash? Explain your reasons.

A: A credit card provides the holder access to funds for their use for which they have to pay later. It…

Q: Cash received from loans is a deposit other than customer payments. Group of answer choices True…

A: Cash received from the loan is considered as the current liabilities with the name of deposits.

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: The bank does not subtract the amount of your payment from the beginning balance but charges you…

A: Accrued interest: Accrued interest is the outstanding interest expense in the accounting period, as…

Q: The host of payment services offered by Banks do not include the following: O a. Cheque facility O…

A: The general service which are offered by a bank to all the customer are banking transaction of…

Q: Is the following statement true or false? Open-end loans are often called line-of-credit accounts. O…

A: A loan provided by a financial body to a borrower that has a pre-approved credit limit and can be…

Q: Bank rates on credit card balances are usually similar to the rate charged on business loans.…

A: A credit card's interest rate, often known as a 'financing charge,' is the rate levied by credit…

Q: What is the difference between a bank feed transaction and a manually entered transaction in…

A: In QuickBooks Online, a bank feed transaction refers to the financial transactions that are imported…

Q: True or false: An example of a soft inquiry would be a credit card company looking into your credit…

A:

Q: K Checking Accounts. Why do individuals use checking accounts? What is the disadvantage of having…

A: The question is asking about the purpose of checking accounts, the disadvantages of having funds in…

Q: when a company establishes a credit line with a bank, it is the same as borrowing from the bank True…

A: Credit line is similar to taking a loan but in credit line loan is taken on a regular basis. There…

Q: 10. What is one advantage and disadvantage of using a credit card to make purchases.

A: Credit card is issued by financial institutions such as banks to the customers for facilitating…

Q: Banks sometimes loan cash under noninterest-bearing notes. Is it true that banks lend money without…

A: Noninterest – bearing Notes Noninterest-bearing notes are those notes or bonds that are with no…

Q: Money spent from a debit card is money that is borrowed and must be paid back. O True O False

A: Money spent from debit card is the money owned by the customer and is in  customers account only. i,…

Q: A Letter of Credit (LC) is a document that guarantees the buyer's payment to the sellers. It is…

A: The Letter of Credit is provided for guaranteed payment in case of international trade. It allows…

Q: A bank may only take a bank deposit as collateral if the deposit was made at the same bank. a. True…

A: Collateral security refers to assets or property that a borrower pledges to a lender to secure a…

Q: Credit card debt and commercial loans are easily among the most significant and familiar financial…

A: Credit card debt is a type of bank overdraft wherein the borrower needs to pay an interest amount…

Q: What is a credit card’s grace period? A) it is the amount of time after a purchase and before it…

A: Introduction: The time between the end of the billing cycle and the payment due date is called the…

Q: True our False? 6. Under the mudarabah account, the depositors will always be guaranteed to get back…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: fill in the blanks to complete each sentence. 7. From a bank's viewpoint, a standby letter of…

A: A letter of credit is referred to as a guarantee where the bank uses the letter to give the…

Q: K Checking Accounts. Why do individuals use checking accounts? What is the disadvantage of having…

A: Explanation is given below Explanation:People frequently utilise checking accounts for a variety of…

Q: ing source of finance allows the holders to withdraw more than their balance ? a. Commercial Paper…

A: Financial instruments are instruments that have some monetary value and are created due to the…

Q: When a customer is delinquent on paying a notes receivable, your company has the option to continue…

A: Here in the questions, there are multiple sub-parts so we are doing the first three sub-parts  If…

Q: Which one of the following statements is NOT true about account receivables? Select one: a. Account…

A: Accounts receivable: if sale is made on cash the supplier immediately collects the cash and no…

Q: What is Bank Overdraft?  1. A document used by a company's accounts payable department containing…

A: The objective of the question is to understand the concept of a bank overdraft in the context of…

Q: Which one of the following statements is false? a. Consumer loans are loans banks advance to…

A: Solution:- Loans means the advances made by the bank to the customers, while deposits means the…

Q: Suppose a bank offered to make loans to potential borrowers without checking their credit history.…

A: The banks generate their income mainly from the difference between the lending rate and the rate…

Q: Revolving lines of credit generally do not involve the use of credit cards and often offer borrowers…

A: Overdraft protection is linked to your checking account in case you overdraw your account. It draws…

Q: Under what conditions may a bank refuse to make payment?

A: Conditions:- - when the customer has died - customer had insane or insolvent. - customer lost the…

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: The facility where banks advance loans to its customer’s up to a certain amount if there is no…

A: Bank is an institution that deposits our money into their accounts and then lends the money to the…

Q: accounts receivable

A: Account receivable refers to the process of payment that the company should receive from the…

Q: allows the bank clients to borrow money against a line of credit with a credit limit. a. Credit card…

A: When borrower can take money out as needed untill the limit is reached and as money is repaid it can…

Q: The bank may require other forms of collateral security for bank loans. These may include O 1. a…

A: Collateral Securities Concept for Bank borrowing  Banking

Q: 2. Should people have more than one credit card? Explain.

A: A credit card is a plastic card issued by a financial institution or credit card company that allows…

Q: redit cards provide consumers with what is known as revolving credit. T

A: Introduction : A credit card can be understood as the type of  card which enables you to receive…

Q: What can you do if you cannot pay your credit bills?

A: Billing statement is defined as a periodic statement used to list all the payments, purchases,…

Q: If a credit is money coming to you, why is it called a credit card when money is removed from your…

A: Under the financial accounting, each account with some balance will either have debit balance or…

Q: is a short term loan against your credit card. Instead of using the credit card to make purchases or…

A: The credit card provides facilities to buy goods and services as well as withdraw cash for different…

Q: The interest rate that banks provide to the customers for the savings deposit account is more than…

A: The bank provides different types of rates on different types of investment.