Initially,ATM's Automated Teller Machines)were Introduced So That Customers Could Make

question 109

Multiple Choice

Initially,ATM's automated teller machines) were introduced so that customers could make withdrawals from their bank accounts,day or night.As the technology improved,the machines offered a variety of services including the acceptance of deposits,the ability to get credit card advances,check your bank account balances,and even purchase prepaid cell phone credit.ATMs now offer:

• A)flexible manufacturing for its customers.
• B)lean services because it only needs to keep a certain amount of cash in each machine.
• C)technology similar to CAD.
• D)faster service and mass customization.

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Definitions:

Internal Control

Strategies and systems put in place by an organization to maintain the reliability of its financial and accounting data, encourage responsible behavior, and deter deceitful practices.

Invoice Approval

The process of reviewing and verifying invoices from suppliers before payment is made, to ensure that the charges are correct and services or goods were received.

Bonded

Refers to a business or individual that has purchased a surety bond, a type of insurance policy that protects against losses caused by the bonded party.

Insurance Policy

A contract between an insurer and a policyholder that specifies the terms of the insurance coverage.