Which type of cash management instrument could also be used by a college student to access his or her meal plan?
A)Credit card
B)Debit card
C)Stored-value card
D)Stored-value card.

Question

Quizplus · Accepted Answer

A stored-value card, also known as prepaid card, allows the user to load a certain amount of money onto the card and then use it for purchases at designated locations. This type of cash management instrument is commonly used for meal plans on college campuses, as students can load their funds onto their card and use it at dining halls and campus restaurants. Credit cards and debit cards are not typically linked to meal plans, and while a debit card can be used for purchases, it is not as convenient for tracking and managing a specific expense like a meal plan.

Which Type of Cash Management Instrument Could Also Be Used