You are at the checkout counter at the local supermarket, use your debit card to pay for your groceries, and select credit when the cashier asks Debit or credit? Where does the money for this purchase come from?

BUDGETING

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

You are at the checkout counter at the local supermarket, use your debit card to pay for your groceries, and select “credit” when the cashier asks “Debit or credit?” Where does the money for this purchase come from?

A	Your credit card company covers the cost
B	It is deducted directly from your checking account
C	Your credit card company provides you with a cash advance to cover the cost
D	It is deducted from your credit card account

Explanation:

Detailed explanation-1: -You write paper checks, withdraw money from an automated teller machine (ATM), or pay with a check card.

Detailed explanation-2: -Which of the following is a way to access the money in your checking account? Using your debit card to pay for groceries at the checkout.

Detailed explanation-3: -An official bank statement is typically sent by the bank to the account holder every month, summarizing all the transactions of an account during the month.

Detailed explanation-4: -Which of the following is a good habit to protect your checking account information? Carry the username and password for your online banking account in your purse or wallet in case you need it on-the-go. Create complex passwords that are a long combination of letters, numbers, and symbols.

There is 1 question to complete.

ECONOMICS (CBSE/UGC NET)

ECONOMICS

BUDGETING