Which of the Following Statements About Online Banking Is Not

question 11

Multiple Choice

Which of the following statements about online banking is not True?

• A) Top mobile banking activities include checking balances and transferring money from one account to another.
• B) Online and mobile banking transactions provide significant costs savings for banks.
• C) All of the purely online banks (those that operate without a network of branches) have gone out of business.
• D) Over 50% of the adult U.S. population used online banking in 2014.

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Definitions:

Depreciation Expense

Depreciation Expense represents the systematic allocation of the cost of a tangible asset over its useful life, reflecting the usage and wear and tear of the asset.

Functional Currency

The primary currency of the primary economic environment in which an entity operates, usually used in preparing financial statements.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, leading to its net profit or loss.

Exchange Rates

The rate at which one currency can be exchanged for another, which affects international trade and investments.