Which of the following is the function of debit cards?
A)They defer payments.
B)They are equivalent to credit cards.
C)They are included in M2.
D)They are used as a method of payment.

Question

Quizplus · Accepted Answer

Debit cards are primarily used as a method of payment, allowing the cardholder to access funds directly from their bank account to complete a transaction. While they may have some similarity to credit cards, they do not defer payment or add to a line of credit like credit cards do. Debit cards are also included in M1, which includes money that is easily accessible and can be used for transactions.

Which of the Following Is the Function of Debit Cards