A(n) __________ Allows Money to Be Exchanged Electronically More Quickly

question 285

Multiple Choice

A(n) __________ allows money to be exchanged electronically more quickly and more economically than with paper checks

• A) electronic check conversion (ECC)
• B) electronic funds transfer system
• C) virtual banking operation
• D) telechecking system

---

Definitions:

Variable Cost

Expenses that change in proportion to the amount of goods or services produced.

Advertising

The action of calling public attention to products, services, or events, typically through paid announcements in various media platforms.

Margin Of Safety

It represents the difference between actual or budgeted sales and the break-even point. It indicates how much sales can fall before a business incurs a loss.

Contribution Format

A specific income statement format that separates fixed costs from variable costs to compute contribution margin, which helps in decision-making.