_______________ Systems Are a Major Form of Electronic Commerce Systems

question 50

Short Answer

_______________ systems are a major form of electronic commerce systems in banking and retailing industries that use a variety of information technologies to capture and process money and credit transfers between banks and businesses and their customers.

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Definitions:

Discount Amortization

Discount Amortization refers to the process of gradually reducing the book value of a bond discount over the life of the bond until it reaches its par value.

Interest Expense

This represents the cost incurred by an entity for borrowed funds, which can include loans, bonds, or lines of credit.

Cash Payment

A transfer of cash from one party to another, often as payment for goods or services.

Bond Discount Amortization

This is the process of gradually expensing the difference between a bond's face value and its purchase price over its life, reflecting an increase in the bond's book value.