In Relation to the Payments System the Huge Number of Low-Value

question 5

Multiple Choice

In relation to the payments system the huge number of low-value transactions is:

• A) cleared by real-time gross settlement.
• B) netted and settled at the end of each day.
• C) settled immediately by banks' settlement accounts at the Reserve Bank of Australia.
• D) netted and settled through banks dealing with Austraclear.

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Definitions:

Products

Goods or services that are created through a business process and offered to the market to satisfy consumer needs or wants.

Particular Date

A specific day identified by its unique combination of day, month, and year.

Schedule Variance

Schedule variance is a project management metric that measures the difference between the planned and actual progress of a project, used to assess project health and performance.

Cost Variance

The difference between the budgeted cost of a task or project and the actual cost incurred.