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7 May, 02:09

Zoe buys three new lipsticks from a store at the mall. Which payment method would reduce the amount of money in her checking account?

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  1. 7 May, 02:18
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    The correct answer to this question would be that Zoe pays for those lipstick through her debit card, but when asked by the cashier she says (intentionally or unintentionally) credit card.

    Explanation:

    Checking account (which is also know as demand or transactional accounts) is that type of deposit account, in which a person has the facility of anytime withdrawal and deposits. In these accounts a person is allowed to make unlimited withdrawals and deposits, as this account is made for day to day transaction purpose not for savings.

    In the given above case if Zoe pays for the lipstick through her debt card but at the time when cashier asked her she said credit card, this will reduce her balance in the checking account.
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