The Cheque-Clearing System Is

question 53

Multiple Choice

The cheque-clearing system is

• A) only found in the United States.
• B) one mechanism by which consumers carry out exchanges.
• C) one mechanism by which banks carry out exchanges with each other.
• D) includes debit card transactions.
• E) slowly being replaced by credit cards.

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Definitions:

Global Business

The conduct of trade, production, marketing, and sales operations on a worldwide scale, transcending national borders.

National Boundaries

The defined geographical limits of a nation, separating it from neighboring countries and marking the extent of its jurisdiction and sovereignty.

Ethical Standards

The principles that guide behavior and decision-making based on notions of right and wrong.

Risk Compartmentalization

The division of risks into different categories or compartments in an organization, which can lead to disjointed risk management and a failure to recognize the aggregate extent of risks.