The Use of a Debit Card Is Most Similar to

question 255

Multiple Choice

The use of a debit card is most similar to

• A) paying with a check.
• B) using a stored-value card.
• C) using currency.
• D) obtaining a short-term loan.

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Definitions:

Operating Cycle

The duration of time it takes for a business to buy inventory, sell it to customers, and collect the cash from the sales.

Mandatory Payroll Deductions

Compulsory deductions from an employee's paycheck by the employer, covering taxes, social security, and other legally required withdrawals.

Voluntary Deductions

Amounts that a person chooses to have withheld from their paycheck, such as contributions to retirement plans or health insurance premiums.

Payroll Expenses

Costs associated with compensating employees, including wages, salaries, bonuses, and related taxes and benefits.