Most Large Payments Between Business Entities Are Made Electronically Through

question 72

True/False

Most large payments between business entities are made electronically through either CHIPS or Fedwire.

---

Definitions:

Insourcing

The practice of performing a business function internally rather than outsourcing it to an external provider or company.

Reverse Outsourcing

The practice where jobs or tasks are brought back in-house from an external service provider, often to regain control or reduce costs.

Nearshoring

The practice of transferring a business operation to a nearby country, often to reduce costs and improve collaboration due to geographical proximity.

Onshoring

The process of returning a business's production or services to its home country from overseas to benefit from domestic advantages.