Home » Interview » Accounting and Finance

Which payment method typically charges the highest interest rates?

Credit cards
Payday loans
Cashier's checks
Pre-paid cards

Correct Answer: Payday loans

Explanation:

Both Credit cards and Payday loans payment methods typically charges the highest interest rates. When compared Payday loans seems to charge a little bit higher interest rates than Credit Cards interest rates.

← Previous Question Next Question→

More Questions from Accounting and Finance

Which is the largest foreign bank in India ?
Headquarters of State Bank of India is in
How Would You Assist an Employee Whose Tax Withholdings Are Inaccurate?
What items would you verify when processing an expense report /invoice for payment?
What is the journal entry process from the time of generating an invoice to receiving payment?
Why do capital expenditures increase assets (PP&E), while other cash outflows, like paying salary, taxes, etc., do not create any asset, and instead instantly create an expense on the income statement that reduces equity via retained earnings ?
Contra-entries are passed only when
The main components of market risk are a) Liquidity risk b) Interest rate risk c) Currency risk
Economists refer to purchases of stocks and bonds as investment.
What is account payable? How we pass the entries in account payable and related all the question based on account payable?

Discussion & Comments

No comments yet. Be the first to comment!

Join Discussion