Which of the Following Is True Regarding Types of Electronic

question 37

Multiple Choice

Which of the following is true regarding types of electronic fund systems?

• A)Automated teller machines and pay-by-telephone systems are types of electronic fund systems;but neither point-of-sale systems nor direct deposit systems are types of electronic fund systems.
• B)Automated teller machines,point-of-sale systems,and direct deposits are all types of electronic fund systems;but a pay-by-telephone system is not a type of electronic fund system.
• C)An automated teller machine is a type of electronic fund system;but pay by telephone systems,point-of-sale systems,and direct deposits are not types of electronic fund systems.
• D)Automated teller machines,pay-by-telephone systems,point-of-sale systems,and direct deposits are all types of electronic fund systems.
• E)Automated teller machines and point-of-sale systems are types of electronic fund systems;but neither a direct deposit system nor a pay-by-telephone system is a type of electronic fund system.

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Definitions:

Opening Inventory

The value or quantity of goods available for sale or use at the beginning of an accounting period.

Weighted Average Process Costing

A method of cost accounting used in production where costs for materials, labor, and overhead are averaged over the units produced, taking into consideration the degree of completion.

Conversion Costs

Expenses related to converting raw materials into finished goods, including labor and overhead costs.

Opening Inventory

The value or quantity of goods on hand at the beginning of an accounting period.