Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

All of the following actions lead to the payment of a credit card fee except:

Making a late payment

Paying the full balance by the due date

Taking a cash advance

Exceeding the credit limit

Previous problemNext problem

Verified step by step guidance

Understand the context of the problem: The question is asking which action does NOT lead to the payment of a credit card fee. This requires knowledge of common credit card fees and their triggers.

Review the options provided: (1) Making a late payment, (2) Paying the full balance by the due date, (3) Taking a cash advance, and (4) Exceeding the credit limit.

Analyze each option: Late payments typically incur a fee, cash advances often come with fees and higher interest rates, and exceeding the credit limit can result in an over-limit fee. Paying the full balance by the due date, however, avoids interest charges and fees.

Apply the concept of credit card fee avoidance: Paying the full balance by the due date is a responsible financial practice that prevents fees and interest charges, making it the correct answer.

Conclude the reasoning: The action that does not lead to a credit card fee is 'Paying the full balance by the due date,' as it aligns with the terms of most credit card agreements.