A(n)____ Obtains Authorization for the Transaction by Sending the Transaction's

question 65

Multiple Choice

A(n) ____ obtains authorization for the transaction by sending the transaction's details to the interchange network and storing a record of the approval or denial.

• A)back-end processor
• B)front-end processor
• C)ACH
• D)issuing bank

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Definitions:

Merchandise Inventory

The total cost of all the goods that a retail company has available for sale at any given time.

Net Income

The total profits of a company after all expenses, including taxes and interest, have been deducted from total revenues.

Accounts Receivable

Accounts receivable represents money owed to a company by customers who have purchased goods or services on credit.

Credit Sales

Sales made by a business where payment is deferred to a later date, typically allowing the buyer to purchase goods or services on credit.