What Is an Electronic Check

question 45

Multiple Choice

What is an electronic check?

• A) An Internet-based company that facilitates payments over the Internet
• B) A mechanism for sending a payment from a checking or savings account
• C) A system that sends bills over the Internet and provides an easy-to-use mechanism to pay the bill
• D) Both software and information-the software provides security for the transaction and the information includes payment and delivery information

Understand the role and function of Consumer Credit Counseling Services (CCCS) in debt management.

Identify the legal frameworks and consumer rights under bankruptcy law.

Recognize the impact of bankruptcy among different demographic groups.

Differentiate between various types of bankruptcy and their consequences.

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Definitions:

Produce

To create or manufacture goods and services for consumer use, often involving a combination of raw materials, labor, and machinery.

Leave the Industry

The process by which firms exit a market or cease operations, often due to unfavorable market conditions or insufficient profits.

Average Variable Cost

The total variable cost divided by the quantity of output produced, representing the variable cost per unit of output.

Shutdown Point

The level of output and price at which a firm's total revenue just covers its variable costs; below this point, the firm would cease production.