Recently,banking Has Become Easier with Automated Teller Machines Replacing Bank

question 123

Multiple Choice

Recently,banking has become easier with automated teller machines replacing bank tellers.The loss of tellers' jobs is an example of _____.

• A)cyclical unemployment
• B)structural unemployment
• C)frictional unemployment
• D)underemployment
• E)voluntary unemployment

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Definitions:

Notes Payable

Short-term or long-term liabilities recorded when a company borrows money, often in the form of a formal written agreement to pay a specified amount with interest.

Net Method

The net method accounts for purchase discounts by recording the initial purchase at net of the discount, encouraging prompt payment by recognizing discounts not taken as interest expense.

Periodic Inventory Method

An accounting method that updates inventory levels and cost of goods sold at the end of a financial period rather than after each sale.

Voucher Payment

A method of payment where documentation is used to authorize and record a payment transaction.