When a Credit Card Is Used to Pay for a Purchase

question 61

True/False

When a credit card is used to pay for a purchase the amount is deducted directly from your chequing account.

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Definitions:

LLLP

A Limited Liability Limited Partnership (LLLP) is a form of partnership that provides limited liability to all its partners, combining characteristics of limited partnerships and limited liability partnerships.

LLC

Limited Liability Company, a flexible form of business enterprise that blends elements of partnership and corporate structures, providing limited liability to its owners.

Distributed First

A priority method in which resources or items are distributed initially before other actions are taken.

Transferee

A person or entity to whom rights, interests, or titles are transferred from another party.