Why do you need to swipe your credit card in the credit card reader for it to accept your charge? A.The current in the reader flows when the credit card strip is stationary. B.The magnetic field in the credit card strip only exists when it is moving. C.The magnetic field in the reader only works when the credit card is moving. D.The magnetic field in the credit card strip needs to move to induce a current in the reader.

Q: An ideal credit card has a higher APR. No interest is charged on a cash advance. Credit limit…

A: A credit card is a plastic card issued by the banks or other financial institutions allowing the…

Q: In many cases, banks do not permit depositors to spend the proceeds of a deposit until several days…

A: Bank: A bank is a monetary organization where clients can set aside or acquire cash. Banks…

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: Imagine you're trying to select a new credit card. Identify 4 attributes of a credit card you would…

A: A credit card refers to a short-term financial product. It provides the short-term debt funds at a…

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: 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: Which of the following controls will help prevent skimming? a. The accounts receivable bookkeeper’s…

A: Skimming is a Fraud on cash receipt, where cash is stolen before recording it into books of accounts…

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

A:

Q: Why it can be risky to provide credit card information over email/internet? Do you think, using a…

A: Answer: There is advancement of technology in todays world and there is scam and phishing. It can be…

Q: If you were a wise credit card user, under which of the following conditions would you consider…

A: Here the situation is person using the credit card and want to consider using the credit card to…

Q: How do sellers benefit from allowing their customers to use credit cards? Do sellers bear any risk…

A: Credit cards A card distributed by the bank to its customers who have good financial records is…

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: Explain why a loan officer always looks at a credit report before making a loan. What should you do…

A: The credit report is a way of assessing the credit history of the person seeking loan. By looking at…

Q: All credit cards are not alike, nor are all spenders alike. When you are deciding which credit card…

A: The objective of the question is to determine the best credit card option for Larry, who is not a…

Q: Which of the following is an advantage of using a credit card? O Your spending is limited to the…

A:

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: 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: What is the key advantage of using electronic payments instead of currency or checks?   A. Lower…

A: Opportunity costs refers to the benefits that are foregone when a firm implements any project.

Q: it important to keep a record of credit card numbers separate from the cards?

A: Step 1 Information can be stolen, and usually, almost anywhere you do business. Most people are…

Q: Companies sometimes convert receivables to cash before they are due by selling them or using them as…

A: Receivables management is the entire process of keeping track of what customers buy from companies…

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: 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: Imagine you're trying to select a new credit card. Identify 4 attributes of a credit card you would…

A: A credit card refers to a short-term financial product. It provides the short-term debt funds at a…

Q: accounts receivable

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

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: 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: A credit report keeps track of money you borrow from banks, credit card companies, and other…

A: Loan means the amount taken from another person to be repaid back with interest.

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

A: Debit cards and credit cards are the facilities offered by Financial institutions or bank.

Q: Aside from a checkbook, many checking accounts nowadays come with an ATM or debit card for…

A: A checking account is a deposit account held at a financial institution that allows withdrawals and…

Q: What if the drawee bank failed to determine right away that the CHECK is supposed to be dishonored…

A: Cheque bounce is a criminal offence under Section 138 of the Act, for which the payee can file a…

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: can you cash a check from an equity reserve account

A: Equity reserve Equity reserve means the amount of money you can access in the future if you…

Q: Select the banking terms from drop down to match with the correct definition. Definitions…

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

Q: Which one of the following is true of a signature​ card?         A. It is the same as a deposit…

A: Solution: A signature card is a document that a bank kept it with the signatures of all the…

Credit card

A credit card is provided by financial institutions or banks, which permits a person to borrow money on a preapproved limit for purchases on a credit basis. The credit limit is decided by the institution and bank which issues a credit card depending on the person’s credit score and income. A cardholder can use the card for credit purchases, a balance transfer, cash advances.