Which of the Following Is One of the Provisions of the Electronic

question 31

Multiple Choice

Which of the following is one of the provisions of the Electronic Funds Transfer Act and Regulation E of the Federal Reserve Board?

• A) A bank can send unsolicited EFTS debit cards to a consumer only if the cards are valid for use.
• B) If a customer notifies the issuing bank of a stolen or lost debit card within two days of the loss, the customer's liability is limited to a maximum of $500.
• C) A bank must provide annual statements of electronic funds transfers to customers who conduct such transactions in a given financial year.
• D) Other than for a telephone transaction, a bank must provide a customer with a written receipt of a transaction made through a computer terminal.

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Definitions:

Total Expenses

encompass all costs incurred by a business or individual within a specified period, including operational, financial, and non-operational expenses.

Planning Budget

An estimate of income and expenditure for a set period, often used to guide financial decision-making and control.

Total Cost

The complete cost of production, including both fixed and variable expenses.

Activity Level

Refers to the volume of production or services activities at any given point or period, often influencing costs and revenues.