A Business That Accepts Payments by Credit and Debit Cards

question 140

Multiple Choice

A business that accepts payments by credit and debit cards ________.

• A) is usually unable to attract more customers
• B) must check each customer's credit rating
• C) generally receives proceeds from credit and debit card transactions 30 - 45 days after the sale
• D) almost always pays a fee to the processor to cover the processing costs

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Definitions:

Bonuses

Additional compensations paid to employees as a reward for their performance and contributions to the company's success, beyond their regular salary.

Old Partnership

A previously established business arrangement where two or more individuals agree to share the profits and losses of a business venture.

Incoming Partner

A new partner who is admitted to a partnership, often contributing capital or assets to the existing partnership.

Capital Balance

The amount of money that investors have contributed to a company plus retained earnings, less any withdrawals.