Which of the Following Steps Is Not One of the Usual

question 22

Multiple Choice

Which of the following steps is not one of the usual steps associated with processing credit card transactions?

• A)Authorisation
• B)Collation
• C)Batching
• D)Clearing and settlement

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Definitions:

Behavioral Economists

Researchers and practitioners who study the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.

Human Brain Modularity

Refers to the concept that the human brain is composed of specialized regions or modules that have distinct functions.

System 1

A term used in psychology, referring to the fast, automatic, intuitive, and emotional way of thinking, as identified by Daniel Kahneman.

Heuristics

Mental shortcuts or rules of thumb that simplify decision making, not always perfect but often effective for quick judgments.