With ATMs, It Is Possible to Retrieve Cash from the Bank

question 13

Multiple Choice

With ATMs, it is possible to retrieve cash from the bank at any time. One hundred years ago, one could only get cash from the bank during business hours, say, 9 am to 3 pm. The difference has arisen because:

• A) flexibility was not valued 100 years ago.
• B) it was impossible to provide 24-hour service 100 years ago.
• C) the cost of providing 24-hour service is much lower today.
• D) government forced banks to become more convenient.

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Definitions:

Insurance Expense

The cost incurred by a business for insurance policies to protect against various risks.

Property Tax

A tax assessed on real estate by the local government, based on the property's value.

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered but not yet paid for.

Merchandise

Goods that are bought and sold in a retail or wholesale environment.