Question

What is the key amendment in the provision regarding business credit cards issued by card-issuers to business entities/individuals for business expenses?  

A Introduction of overdraft/cash credit facility Correct Answer Incorrect Answer
B Requirement for issuing add-on cards Correct Answer Incorrect Answer
C Inclusion of charge cards Correct Answer Incorrect Answer
D Inclusion of an effective mechanism to monitor end use of funds Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Inclusion of an effective mechanism to monitor end use of funds   Explanation: The key amendment in the provision is the inclusion of a requirement for card-issuers to put in place an effective mechanism to monitor the end use of funds for business credit cards issued to business entities/individuals for business expenses.  

Practice Next
×
×