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.

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Definitions:

Budgeted Operating Income

The anticipated revenue from operations minus the expected operating expenses for a certain period, typically before financial expenses and taxes.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels, often used in variance analysis.

Variable Costs

Charges that adjust in line with the scale of production or sales figures.

Variable Overhead Efficiency Variances

The difference between the actual variable overhead incurred and the standard cost of variable overhead that should have been incurred based on efficient operations.