Which of the Following Statements About Online Banking Is Not

question 48

Multiple Choice

Which of the following statements about online banking is not true?

• A) Top mobile banking activities include checking balances and bank statements and viewing recent transactions.
• B) Online and mobile banking transactions provide significant costs savings for banks.
• C) Millennials are adopting mobile banking at a much higher rate than those who are older.
• D) More people use a tablet for mobile banking than a mobile phone.

---

Definitions:

Cost of Goods Sold

An accounting term referring to the direct costs attributable to the production of the goods sold in a company, including material and labor costs.

Ending Inventory

Ending inventory is the total value of goods available for sale at the end of an accounting period, calculated by adding new purchases to beginning inventory and subtracting cost of goods sold.

Periodic LIFO

An inventory valuation method where the last items placed in inventory are the first ones counted as sold, calculated at the end of an accounting period.

Cost of Goods Sold

Represents the direct costs attributable to the production of the goods sold by a company.