Which of the following transactions is represented by the diagram below?

A)A lumber yard where customers may pay with cash for all purchases.
B)A buy-here-pay-here auto dealer where a car buyer sends monthly cash payments to the dealer.
C)A consulting firm that offers a variety of consulting services to other businesses.
D)A department store that allows customers to carry a balance and to make installment payments,if they choose.

Question

Which of the following transactions is represented by the diagram below?

A)A lumber yard where customers may pay with cash for all purchases. 
B)A buy-here-pay-here auto dealer where a car buyer sends monthly cash payments to the dealer. 
C)A consulting firm that offers a variety of consulting services to other businesses. 
D)A department store that allows customers to carry a balance and to make installment payments,if they choose.

Quizplus · Accepted Answer

The diagram represents a credit/debit card transaction, which is commonly used in department stores that offer installment payment options to customers. A lumber yard that only accepts cash (A) would not have any need to process credit/debit card transactions. A buy-here-pay-here auto dealer (B) may accept cash payments but would most likely collect cash directly from the buyer rather than processing electronic payments. A consulting firm that offers a variety of consulting services (C) may accept electronic payments but the diagram shows a credit/debit card transaction, which is less common in business consulting services.

Which of the Following Transactions Is Represented by the Diagram