The Growth of EFTPOS and Internet Banking Has Reduced Shoeleather

question 53

True/False

The growth of EFTPOS and internet banking has reduced shoeleather costs as people do not need to go into the bank anymore.

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Definitions:

Process Costing

An accounting methodology used to allocate costs to units of production in continuous or mass production processes.

Customer Value

Customer value is the perception of benefits received by a customer from a product or service compared to the costs and alternatives, often influencing purchasing decisions.

Throughput Efficiently

The rate at which a system achieves its goal, especially in terms of processing work or information within a given period of time.

Quality Culture

An organizational mindset that focuses on continuous improvement, customer satisfaction, and defect prevention in products or services.