What are some of the assets and liabilities associated with credit cards?

Q: What is a bank account?

A: The  bank account means a financial account which is maintained by a bank on behalf of its…

Q: What do I need to do to build a solid credit history and how can I maintain it?

A: credit score history is a method to judge a customer's capability of paying his credit amount taken…

Q: Investigate the procedures in your financial institution in granting credit cards and the possible…

A: The procedures in my financial institution (it is a bank) in granting credit cards are discussed…

Q: What is easy-access credit?

A: Introduction: The ability to borrow cash or obtain goods or services with expectation of repaying it…

Q: What is a creditor

A: Given the following question: What is a creditor?

Q: do we need to check   the credit worthiness of credit customers before granting their credit…

A: Giving credit to the business and customers is main earning sources for banks but they need to take…

Q: Which is better to have? Accounts receivable or notes receivable? And why?

A: Accounting is the process of recording financial transactions that are material to the business. It…

Q: What are the advantages and disadvantages of using a credit card?

A: There are various advantages when using a credit card as a method for purchasing goods. Following…

Q: On a bank reconciliation. Deposit in transit is.....?

A: Bank reconciliation is a method of reconciliation of balance in bank book with the total of balance…

Q: What is the nature of a “discount” on notes payable?

A: A discount on Notes payable is a contra liability account to the Notes payable account. When the…

Q: How does credit scoring operate, and how are we as consumers and users of credit effected by it?

A: Credit Scoring - Credit scores are calculated with the help of the details of the old payment…

Q: What are credit terms?

A: Credit terms or terms of credit It is the vender purchaser agreement that rundowns the planning and…

Q: How the interest rate affects the release of credit card

A: Given,

Q: what is the basics of banking and discuss the various type of deposits

A: A bank is a sort of financial entity that may accept deposits and lend money. Banks may provide…

Q: What are receivables credits? Please explain.

A: Receivable refers to the assets of the company created due to sale of goods and service on credit to…

Q: Summarize the procedures to follow when accepting credit cards, bill-to-accounts, cash, checks, and…

A: There are different methods through which the customers make the payment to the company like for the…

Q: how can using a mix of Accounts Receivable, Notes Receivable and accepting Credit Cards can benefit…

A: Answer: Accounts receivables, notes receivables and accepting credit cards are three different modes…

Q: A credit report keeps track of money you borrow from banks, credit card companies, and other…

A: Loan means the amount taken from another person to be repaid back with interest.

Q: What types of conveniences should you look for in a savings account?

A: Saving Account: A savings account is a basic type of bank account that permits you to deposit cash,…

Q: desrcibe credit card security and why its imporant

A: Credit Card Security: A form of credit card known as a secured credit card is one that requires the…

Q: Explain book debits and book credits, bank debits, and bank credits. What is proof of cash and its…

A: In books, all the debits and credits are related to assets, liabilities, revenue, and expenses.…

Q: Determine the process to create an bank account?

A: The bank is the financial institution which accepts deposits from the customer and provides credit.…

Q: Investigate the procedures in your a bank of your choice, in granting credit cards and the possible…

A: Financial institution: A financial institution exists to offer a wide range of deposit, lending, and…

Q: What is the objective of having a control system and what is the key points of a credit control…

A: Internal control:   Internal control can be defined as a process to ensure achievement of the…

Q: What is line of credit?

A: Introduction: Usually, the word loan refers to a form of credit facility where a certain amount of…

Q: How is a line of credit issued by a bank similar to a credit card?

A: Line of credit is the amount that bank or any other financial institution has allowed to lend to the…

Q: Describe about the bank loans.

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: What is a revolving credit agreement?

A: Credit refers to the concept is being defined as the financial agreement where the borrowers receive…

Q: What kinds  of fees and penalties can be levied on savings accounts?

A: Bank: It is a financial institution that accept deposits from and provide loan to public. This…

Q: List the ways in whichbanks deal with creditrisk

A: Credit risk in terms of banking industry refers to the risk exposure a bank faces when the borrower…

Q: What is mutual savings bank?

A: The mutual savings bank give loan to those people who are ignored by large financial institutions…

Q: Discuss the different types of banks deposits in respect to features, interest, cost, withdrawals,…

A: The question is based on the concept of different accounts offered by a bank. Bank accepts deposits…

Q: Why is it important to pay off a credit card on time

A: A credit card helps to borrow a certain amount for a definite period. Credit cards grants loan to…

Q: What is a credit memo? When is it used?

A: Credit memo also known as credit memorandum or credit note  Credit memo is issued by the seller of…

Q: What is the process of Borrowing with Credit Cards?

A: The credit card is a vital instrument to upsurge the buying power. The credit card facility aids to…

Q: how do debits and credits work?

A: Debit and Credits: Debit and Credits are used as a basis of bookkeeping to book balance in the books…

Q: can you please explain the difference between Accounts Receivable, Notes Receivable and accepting…

A: Answer: The accounts receivables, notes receivables and accepting credit cards are form of the cash…

Q: of bank account

A: Answer: Bank accounts are mainly opened to make easier payments and receipts worldwide. Types of…

Q: What is a credit note

A: Step 1 Credit note as the name depicts it generates some beneficiary status to some third party.

Q: Describe methods of calculating Interests on Your Credit Cards?

A: A card that is generally issued by the banks that helps the person to borrow the money up to the…

Credit card

A credit card is provided by financial institutions or banks, which permits a person to borrow money on a preapproved limit for purchases on a credit basis. The credit limit is decided by the institution and bank which issues a credit card depending on the person’s credit score and income. A cardholder can use the card for credit purchases, a balance transfer, cash advances.