Smart Cards Allow Customers To

question 75

Multiple Choice

Smart cards allow customers to:

• A)spend money for various transactions, whereby the transaction value will be directly debited from the customer's account
• B)store and spend money for various transactions using a card that has a chip-storage device
• C)spend money for various transactions without having to pay the balance until a pre-set due date
• D)access their funds overseas

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Definitions:

GAAP

Generally Accepted Accounting Principles, a standard framework of guidelines for financial accounting.

Earnings Benchmarks

Standards or metrics against which a company's profitability can be measured.

Discretionary Spending

Expenditures made at the discretion of a business or individual, which are non-essential and can be adjusted or eliminated.

Accounting-Based Incentives

Compensation schemes for employees or executives that are tied to accounting performance measures, such as earnings or return on assets.