The Following Is a True Statement About Payment Systems and Security

question 33

Multiple Choice

The following is a true statement about payment systems and security:

• A) Payment and security issues are primarily unrelated.
• B) Payment and security issues are closely related.
• C) Payments cannot occur without security.
• D) Payment is always secure if made by credit card.
• E) Security cannot protect credit cards.

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Definitions:

Offer

A proposal by one party to another to enter into a contract, typically specifying terms and conditions.

Business Entity Assumption

A concept of accounting that limits the economic data in the accounting system to data related directly to the activities of the business.

Economic Transactions

Acts of buying, selling, or trading goods, services, or financial assets in the economy.

Cost Principle

An accounting principle that states all goods and services purchased by a business must be recorded at their historical cost, not their current value.