16-61 Which of the Following Explains Why ATM Networks Have

question 102

Multiple Choice

16-61 Which of the following explains why ATM networks have grown relatively slowly in countries such as Sweden and Singapore?

• A)Absence of interregional banking restrictions in these countries.
• B)Prevalence of nationwide branching and banking in these countries.
• C)Prohibitive charges imposed for the use and leasing of domestic telephone lines.
• D)Crime and fraud risk.
• E)None of the above.

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Definitions:

General Journal

A fundamental accounting record where all transactions are initially documented through journal entries in chronological order.

Merchandise Credit

A type of voucher issued by retailers to a customer when returned merchandise cannot be refunded in cash, used for future purchases.

Reversing Entries

Journal entries made at the beginning of an accounting period to negate or reverse certain adjusting entries made in the previous period for simplification.

Adjusting Entries

Adjusting entries are journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.