To Which of the Following Transactions Does the EFT Code

question 29

Multiple Choice

To which of the following transactions does the EFT code not apply?

• A)Cheque transactions
• B)Internet and telephone banking transactions
• C)Transactions involving the purchase of products using electronic transfer at the time of sale (EFTPOS)
• D)Withdrawals or deposits from an automatic teller machine (ATM)

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Definitions:

Absolute Advantage

A condition where a country, company, or individual can produce a good or service more efficiently than another entity, using fewer resources.

Corn Laws

The tariffs, subsidies, and restrictions enacted by the British Parliament in the early nineteenth century to discourage imports and encourage exports of grain.

Imports

Products or services imported from one country into another for the purpose of selling or utilization.

Exports

Goods or services produced in one country and sold to buyers in other countries.