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Which of the following account types is considered a transaction account under the Expedited Funds Availability Act?

Checking or Share Draft Account


Is a checking account considered a transaction account?

Yes.


When I make a payment on my loan is that considered a Debit transaction?

Yes, when you make a payment on your loan, it is considered a debit transaction. This is because the payment reduces your account balance, and the funds are taken out of your account to pay off the loan. Essentially, it represents an outflow of money from your account.


An account holder is making a purchase with the purchase account over the phone. When completing this transaction the account holder is responsible for all of the following tasks EXCEPT?

Happy


What is the correct drill-down hierarchy for account lists and transaction lists?

Management account, cardholder account, transaction list


When an account holder is making a purchase with the purchase account over the phone. When completing this transaction the account holder is responsible for all of the following tasks EXCEPT?

Happy


What is the correct drilled hierarchy for account lists and transaction lists?

Managing account to card account to transaction list


What type of account can be a transaction account?

A checking account


The transaction would increase an asset account and increase a liability account?

The transaction would increase an asset account and increase a liability account?


What is the correct drill-down hierarchy for account list and transaction lists?

Management account, cardholder account, transaction list


What is the correct drill down hierarchy for account list and transaction lists?

Management account, cardholder account, transaction list


What is the correct drill-down hierarchy for account lists and transaction list?

Management account, cardholder account, transaction list