Under the Gross Method,when the Credit Card Processor Deposits the Cash

question 257

Multiple Choice

Under the gross method,when the credit card processor deposits the cash proceeds from credit and debit card sales ________.

• A) there will be no fee charged for the transaction
• B) the deposit is made on the last day of the month
• C) the total sales plus the processing fee assessed equals the net amount of cash deposited
• D) the processing fees are deducted from the company's bank account by the processor

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Definitions:

Public Saving

The difference between tax revenues and government spending, representing the amount of surplus or deficit in the government's budget.

Private Saving

The portion of households' income that is not used for consumption or paying taxes, and is instead saved.

Savers

Individuals or entities that set aside income or resources for future use, often with the intent of accumulating wealth or for future investment.

Investors

Individuals or institutions that allocate capital with the expectation of receiving financial returns, often involving investment in stocks, bonds, or real estate.