The Major Difference Between a Typical Credit Account and a Debit-Only

question 42

Multiple Choice

The major difference between a typical credit account and a debit-only transfer system is that in the debit-only transfer system,_____.

• A)interest is assessed from the billing date
• B)the purchase price is immediately deducted from the consumer's bank account
• C)no interest is charged if payment is made at the billing date
• D)the consumer is billed monthly on the basis of the outstanding balance

---

Definitions:

Internet Fraud

Deceptive practices and scams perpetrated online, aiming to defraud victims through means like phishing, identity theft, and financial exploitation.

Identity Theft

The fraudulent acquisition and use of someone's private identifying information, usually for financial gain.

Blog

A web page that serves as a publicly accessible personal journal for an individual or organization.

Small Business

Independent business with fewer than 500 employees, not dominant in its market.