When a Customer Purchases an Item with a Debit Card

question 209

Multiple Choice

When a customer purchases an item with a debit card,

• A) they actually are taking out a short-term loan with 30 days to pay before any interest is charged.
• B) the payment flows first through an electronic clearinghouse which then sends the customer a bill.
• C) the transaction duplicates the process of a credit card.
• D) the funds are automatically transferred from the customer's account to the store's account.

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Definitions:

Goods and Services

The tangible products (goods) and intangible activities (services) that fulfill consumers' needs and wants, available through economic transactions.

Professional Obligations

Duties or responsibilities that professionals are expected to fulfill in adherence to the standards and ethics of their profession.

Antithetical

Directly opposed or contrasted; mutually incompatible.

Collaborative Strategies

These are approaches involving working together cooperatively among individuals or organizations to achieve common goals or address common challenges.