Which statement based on textbook discussion is true about debit or credit cards?
A)A debit card draws against either an account the user has with a financial institution or a prior payment of money made to the card issuer.
B)Credit card transactions provide the greater profit to financial institutions.
C)Debit cards provide greater protection as a matter of law to the consumer.
D)Debit and credit cards are treated identically by the law.

Question

Which statement based on textbook discussion is true about debit or credit cards?
A)A debit card draws against either an account the user has with a financial institution or a prior payment of money made to the card issuer.
B)Credit card transactions provide the greater profit to financial institutions.
C)Debit cards provide greater protection as a matter of law to the consumer.
D)Debit and credit cards are treated identically by the law.

Quizplus · Accepted Answer

A debit card draws directly from the user's bank account or a prepaid balance, whereas credit cards allow users to borrow funds up to a certain limit.

Which Statement Based on Textbook Discussion Is True About Debit