When signing up for a new checking account you answer "No" and opt out of overdraft protection. On this day, you have $10 in your account and go out and use your debit card to buy lunch for $12, a movie ticket for $12 and dinner for $15. What is likely to be the outcome resulting from these transactions

Overdraft or insufficient fund fees will be charged while the excess amount $(39-10) with the bank charges is recorded as a debt owed to the bank

Explanation:

Overdraft protection is a form of bank service rendered to protect a check account from crossing a zero balance in order to avoid overdraft or non sufficient fund fees. It allows the transfer of fund from one account to another when funds are no longer adequate for a particular transaction or even at zero balance.

In the situation where an account holder opt out of it , this means he will be charged an interest on any spending in excess of it account balance and the total debt recorded against him.