In the US, Electronic Methods of Payment Account for a Larger Number

question 41

True/False

In the U.S., electronic methods of payment account for a larger number of transactions, but a lower aggregate dollar value than non-electronic methods of payment.

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Definitions:

Current Liability

A liability that is expected to be paid off within a year's time or within the normal operating cycle of a business.

Short-Term Obligation

Debt or financial obligations due within one year.

Payroll Taxes

Taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff.

Employee

An individual who works part-time or full-time under a contract of employment, contributing labor and expertise to an employer.