Julia just received her paycheck and stopped at the bank on the way home from her job to make a deposit.While eating dinner she read the ads in the local newspaper and realized she needed new clothes for school and work.She picked out several garments from the Kohl's ad that she liked and,after eating,went to Kohl's to purchase the clothing.She tried on several outfits then settled on two pairs of pants,a skirt,and two blouses.She took the clothing to the cash register and stood in line with other shoppers.When it was her turn to purchase the clothing,she gave the cashier a card that electronically subtracted the amount of her purchase from her account at the moment the purchase was made.What kind of transaction did she participate in?

Question

Quizplus · Accepted Answer

Julia participated in a debit card transaction as she used her card to electronically subtract the amount of her purchase from her account at the moment the purchase was made. Both options A and B (third-party loan and bank loan) involve borrowing money, which is not the case in this scenario. Option D (credit card transaction) involves borrowing money that needs to be paid back with interest, which is also not the case in this scenario.

Julia Just Received Her Paycheck and Stopped at the Bank