American Express and Discover Card Are Examples of Open Loop

question 80

True/False

American Express and Discover card are examples of open loop systems.

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Definitions:

Budget

An estimate of income and expenditure for a set period of time, outlining planned financial transactions and goals.

Desired Response

The specific reaction or reply sought by the initiator of communication, often aiming to achieve a particular outcome.

Explain

To make (an idea, situation, or problem) clear to someone by describing it in more detail or revealing relevant facts or ideas.

Forwarded

The act of sending a message or document received from one party to another party.