When the Credit Card Processor Deposits the Gross Proceeds from Credit

question 44

Multiple Choice

When the credit card processor deposits the gross proceeds from credit and debit card sales ________.

• A)there will be no fee charged for the transaction
• B)the deposit is made on the last day of the month
• C)the total sales less the processing fee assessed equals the net amount of cash deposited
• D)the processing fees are deducted from the company's bank account by the processor

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Definitions:

Continuous Random Variable

A continuous random variable is a variable that can take an infinite number of values within a given range, representing quantities that can be measured, not just counted.

Probability Density Function

A function that describes the relative likelihood for a continuous random variable to occur at a given point in the observation space.

Continuous Random Variable

A type of random variable that can take an infinite number of values within a given range, often measured to any degree of precision.

Weekly Income

The amount of money someone earns in one week from all sources of employment or investments.