In an Electronic Funds Transfer (EFT) System, the Information of a Transaction

question 184

True/False

In an electronic funds transfer (EFT) system, the information of a transaction is communicated from one computer to another.

---

Definitions:

Par Common Stock

The nominal or face value of a share of common stock, as specified in the corporate charter.

Paid-In Capital

The sum of funds a corporation has obtained from its investors through the sale of stock shares.

Common Stock

A form of corporate equity ownership, representing a claim on a portion of the corporation's profits and assets.

Excess Of Par

The amount by which the sale price of a share of stock exceeds its par value, often recorded as additional paid-in capital on the balance sheet.