Which of the Following Statements Is NOT Correct? Debit Cards

question 8

Multiple Choice

Which of the following statements is NOT correct? Debit cards:

• A)are instruments of payment available to a deposit account holder.
• B)are ways to use the electronic funds in a check deposit account.
• C)are an alternative form of money to cash.
• D)are non-cash non-paper instruments of payment.

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Definitions:

Required Rate

The minimum return an investor expects to achieve by investing in a project, often used as a benchmark to assess its viability.

Average Accounting Return

The average accounting return is a financial ratio that measures the profitability of an investment as the average net income the investment generates divided by the book value of the investment's initial cost.

Straight Line Method

A method of calculating depreciation or amortization by evenly spreading the cost of an asset over its useful life.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from total revenue.