As at 2013, Different Payment Systems Exist for the Settlement

question 27

Multiple Choice

As at 2013, different payment systems exist for the settlement of retail and wholesale payment instructions in Australia.The wholesale payment system:

• A)is, in total, of less daily value than retail payment system
• B)settles on a real-time gross settlement basis
• C)settles more transactions than the retail payment system
• D)is used for all large transactions.
• E)All of these.

Learn the process of operational planning and its necessity for implementing a strategic plan.

Distinguish between different levels of strategies and their ordering.

Know the importance of organizational mission, vision, values, and objectives in strategic planning.

Understand the significance of objectives being specific and quantifiable for effective strategic planning.

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Definitions:

Planning Budget

A budget created at the beginning of the budgeting period that is valid for a planned level of activity.

Fixed Cost

A cost that does not change with the level of production or sales volume, remaining constant even when output varies.

Flexible Budget

A budget that adjusts or varies with changes in the volume or activity level of a company, making it more adaptable than a static budget.

Revenue

The total amount of money received by a company from its business activities, like sales of goods or services.