An Automatic Teller Machine Requires That Each Customer Enter a Five-Digit

question 4

Multiple Choice

An automatic teller machine requires that each customer enter a five-digit personal identification number (PIN) when he or she inserts a bank card. If a person finds a bank card and guesses at a PIN to use the card fraudulently, and the person knows that the PIN will not have any digit repeated, what is the probability the person will succeed in guessing in one attempt? ​

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Definitions:

Cash Payments

Transactions where payment for goods, services, or obligations is made using physical currency or checks instead of digital means.

Collections

The act of receiving payments for bills or accounts receivable, often referring to efforts made to gather overdue payments.

Reconciling Items

Adjustments made to reconcile differences between two sets of records or accounts, often used in the context of comparing bank statements to internal records.

Journal Entry

Journal entry is the method by which financial transactions are recorded in an organization's accounting records, specifying the accounts affected and the direction (debit or credit) of the transaction.