What Is the Process of Hiding Object Data and Providing

question 21

Multiple Choice

What is the process of hiding object data and providing methods for data access called?

• A) documentation
• B) encapsulation
• C) instantiation
• D) abstraction

Understand the implications of not reporting unauthorized transactions or forgeries in a timely manner according to banking regulations.

Identify the forms and implications of electronic money in financial transactions.

Grasp the legal recovery options available when dealing with forged endorsements and unauthorized check payments.

Understand the concept and legal standing of substitute checks.

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Definitions:

Net Income

The profit of a company after all expenses and taxes have been subtracted from total revenue.

Operating Activities

Transactions and other events related to the core business operations of a company, including revenue and expense transactions that affect the net income.

Investing Activities

Transactions involving the purchase and sale of long-term assets and other investments not included in cash equivalents.

Net Cash Flow

The difference between a company's cash inflows and outflows in a given period.