Santiago Cleaners allows customers make purchases using their VISA credit cards. If customers purchase from Santiago using VISA credit cards, which of the following statements is correct?
A. VISA will wait until the customer makes payment to the credit card company until forwarding payment to Santiago.
B. Santiago must bear any losses from uncollectible accounts.
C. Santiago does not have to collect directly from customers.
D. VISA pays Santiago the full amount of purchase, without charging a fee.
Answer: C
You might also like to view...
The first 12 circuits of the U.S. courts of appeals are geographical.
Answer the following statement true (T) or false (F)
Refunds and rebates suffer the disadvantages of costs, paperwork, and diminished effectiveness
Indicate whether the statement is true or false
On August 1, 2015, Yellow Company paid $6,320 for a three-year insurance policy. On that date, an expense account was charged. In the adjusting entry on December 31, 2015, there would be a
A) debit to Insurance Expense for $175. B) credit to Prepaid Insurance for $2,107. C) credit to Prepaid Insurance for $527. D) credit to Insurance Expense for $5,442.
In order to be most effective, an event takeaway at a pharmaceutical trade show should be a ________
A) fun product that children will enjoy B) costly item that attracts non-prospects C) functional reminder of an organization D) brochure with product and contact details E) disposable or edible item with a firm's logo on it