Which of the Following Statements Is TRUE with Respect to a Contractual

question 62

Multiple Choice

Which of the following statements is TRUE with respect to a contractual obligation that is discharged through payment by a debit card?

• A)Debit cards use the same rules and procedures as credit cards.
• B)Unlike payment by cash,payment by debit card is conditional rather than final.
• C)A debit card operates by allowing the card holder to purchase an item by promising to pay the vendor later.
• D)Because of the need for commercial certainty,the holder of a debit card is liable for all purchases,even if,for example,a criminal uses a gun to force the card holder to use the card.
• E)Payment by debit card is final and irrevocable,unlike a credit card transaction.

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Definitions:

Developing Countries

Nations with a lower level of material well-being, industrialization, and economic development, often characterized by lower incomes and less stable economic conditions.

Capital

Assets used for the production of goods and services, such as buildings, machinery, and equipment.

Purchase Price

The amount of money that is paid to buy a good, service, or asset.

Rental Price

The cost associated with leasing or renting a property, such as a house, apartment, or commercial space.