The ACH (Automated Clearing House) Debits Are Preauthorized Electronic Withdrawals

question 60

True/False

The ACH (automated clearing house) debits are preauthorized electronic withdrawals from the payer's account.

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Definitions:

Inventory

The total amount of goods or materials held in stock by a company or business.

Original Value

The initial monetary worth of an asset or investment at the time of its purchase or acquisition.

Tangible Assets

Physical and measurable assets owned by a business, such as machinery, buildings, and inventory, as opposed to intangible assets like patents or copyrights.

Inventory

The total amount of goods and materials held by a company in stock, awaiting sale or use in production.