Sean Made a Purchase at His Local Walmart

question 119

Multiple Choice

Sean made a purchase at his local Walmart.Instead of writing a check,Sean used a card issued by his bank with a Visa logo on the front.He entered his PIN and the purchase was automatically deducted from his checking account.Sean used his __________ card.

• A)credit
• B)debit
• C)mortgage
• D)point-of-sale

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Definitions:

Indorsement

The act of signing one's name on the back of a negotiable instrument, which transfers the property rights to another.

Indorsements

Written approvals or endorsements on documents, especially checks or promissory notes, to signify agreement, consent, or transfer.

Payable

Refers to debts or financial obligations that an entity is required to pay within a specific period, such as bills or invoices.

Negotiation

Negotiation is the process whereby interested parties discuss, deliberate, and come to an agreement on terms and conditions that are mutually acceptable.