Chapter 1: What Payment Method?

A ___________________ would be set up to repay a bank loan in equal monthly instalments.

• Standing Order

• Direct Debit

• CHAPS

• Faster Payment

A ___________________ would be set up to make regular rent payments.

• Standing Order

• Direct Debit

• CHAPS

• Faster Payment

A ___________________ would be used to purchase office stationery online.

• Debit Card

• Direct Debit

• CHAPS

• Faster Payment

___________________ would be used to pay wages.

• BACS direct credits

• Direct Debit

• CHAPS

• Faster Payment

___________________ would be used to pay a supplier £2,500 after taking 15 days credit.

• BACS direct credits

• Direct Debit

• CHAPS

• Faster Payment

___________________ would be used to buy tea bags for the office.

• Cash

• Direct Debit

• BACS direct credits

• Faster Payment

A ___________________ would be used to pay £380 for new tyres for the company van.

• Debit Card

• Direct Debit

• BACS

• Faster Payment

Which TWO of the following items should be checked when a cheque is accepted as payment from customers.

• Issue number

• Words and figures match

• Expiry date

• Date is not in future

_____________ would be used to make a payment of £300,000 to Taz Ltd to secure a new retail unit. Immediate payment is required.

• Faster Payment

• CHAPS

• Credit Card

• BACS direct credits

A _____________ would be used to make a payment of £2,000 to Dixie Ltd as a deposit for a supply . The payment is required immediately.

• Faster Payment

• CHAPS

• Credit Card

• BACS direct credits