A System That Relies on Electronic Communications, Not Paper Documents

question 8

Multiple Choice

A system that relies on electronic communications, not paper documents, to transfer cash is known as:

• A)electronic remittance.
• B)electronic funds transfer.
• C)electronic mail.
• D)electronic imaging.

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Definitions:

Inventory

The total amount of goods and materials held by a company intended for sale or production.

Net Income

It represents the amount of money that remains after subtracting all operating expenses, taxes, and costs from total revenue – a key indicator of a company's financial health.

Long-Term Debt

Long-term debt refers to loans and financial obligations lasting more than one year, often used for significant investments or expenses by a company.