The Reason for Firms to Use Remote Disbursements Is

question 62

Multiple Choice

The reason for firms to use remote disbursements is:

• A)To decrease the payment float
• B)To speed up the payments to the creditors
• C)To decrease the collection time
• D)To increase the payment float

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Definitions:

Charge Card

A special type of credit card where the monthly bills for all purchases must be paid in full and there is no interest charged.

Truth-in-Lending Act

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Deferred Payment Plan

A payment arrangement that allows a purchaser to pay for goods or services at a later date, often after receiving some form of benefit from them.

Retroactive APR

Annual Percentage Rate that is applied to charges made previously, often after a promotional period ends or due to a late payment.