An Example of Electronic Funds Transfer Is

question 85

Multiple Choice

An example of electronic funds transfer is:

• A)a transfer of funds without the use of paper checks.
• B)a transfer of funds by writing a check.
• C)the same as a deposit in transit.
• D)All of these are correct.

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Definitions:

Impairment Losses

Financial losses recognized when the carrying amount of an asset exceeds its recoverable amount.

GAAP

Generally Accepted Accounting Principles, a standard framework of guidelines for financial accounting used in any given jurisdiction, notably the U.S.

IFRS

International Financial Reporting Standards - a set of accounting standards developed by the International Accounting Standards Board that is used globally.

Intangibles

Assets that cannot be touched or physically measured, such as patents, copyrights, and trademarks.