Which of the Following Occurs When Retailers Transform Paper Checks

question 59

Multiple Choice

Which of the following occurs when retailers transform paper checks they take from customers and process them electronically?

• A)Check transfer
• B)Check substitute
• C)Check exchange
• D)Check conversion

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Definitions:

Flexible Budget

A financial plan that adjusts or varies with changes in volume or activity.

Spending Variance

The difference between the budgeted amount of expenditure and the actual amount spent.

Facility Expenses

Costs associated with maintaining and operating a physical location or building, such as rent, utilities, and maintenance.

Spending Variance

The difference between the actual amount spent and the budgeted amount for a specific period or category.