When Reporting Errors or Unauthorized Transactions,it Is Best to Notify

question 144

Multiple Choice

.When reporting errors or unauthorized transactions,it is best to notify your bank

• A)by telephone.
• B)by letter, keeping a copy for your files.
• C)by telephone and follow-up letter, keeping a copy for your files.
• D)by none of the above.

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Definitions:

Economic Profits

Profits calculated after subtracting both the explicit and implicit costs from total revenues; also known as supernormal profits.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, representing additional earnings beyond the normal profit level.

Industry Entry

The process of a new competitor or company beginning operations in a particular market.

Economic Profit

Economic profit is the surplus obtained after subtracting both the explicit and implicit costs from total revenues, emphasizing the opportunity costs of resources used.