An Approach That Implicitly Underlies the Decisions About the Design

question 142

Short Answer

An approach that implicitly underlies the decisions about the design of accounting systems, that the potential benefits should exceed the additional costs

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Definitions:

Receiving Bank

A bank that receives transferred funds in a transaction, often in the context of wire transfers or other electronic payments.

Electronic Funds Transfer Act

A U.S. law that protects consumers engaging in electronic transfers, including ATM withdrawals, direct deposits, and transfers initiated through debit card transactions.

Regulatory Statute

Laws designed to govern and regulate specific activities or sectors, aiming to maintain public welfare, safety, and standards.

Unauthorized Transfers

Transactions or movements of assets that occur without the proper approval or consent.