What Type of Card Draws Money Directly from Your Checking

question 4

Multiple Choice

What type of card draws money directly from your checking account?

• A) debit card
• B) credit card
• C) prepaid credit card
• D) student ID card

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Definitions:

Cash Payments Journal

A financial journal that records all cash outflows or payments made by a business, including expenses, debt payments, and purchases.

Credit To Cash

A transaction in accounting where a credit sale is paid off, converting receivables into cash.

Accounts Payable

Liabilities of a business that represent money owed to suppliers or creditors for goods and services received.

Accounts Payable Subsidiary Ledger

A detailed record used to track amounts owed to suppliers or creditors separate from the general ledger.