Cite Five of the Issues That Should Be Addressed in the Industry

question 27

Essay

Cite five of the issues that should be addressed in the industry analysis. ​

Explain the principles of electronic funds transfers (EFT) including the types of EFT systems.

Comprehend consumer rights and liabilities under the Electronic Funds Transfer Act (EFTA).

Grasp the concepts of final payment, dishonor of checks, and the effects on the parties involved.

Recognize the warranties and duties of collecting banks in the check collection process.

---

Definitions:

Budgeting

The process of creating a plan to spend your money, forecasting future income and expenses over a specified period.

Nonquantifiable Economic Events

Economic activities or occurrences that cannot be precisely measured or valued in numerical terms.

Financial Reports

Documents that communicate an organization's financial status to stakeholders, including income statements, balance sheets, and cash flow statements.

Special Memos

Documents used within an organization to communicate unique or unusual transactional information that doesn't fit the regular documentation processes.