Which of the Following Is Not a True Statement About

question 74

Multiple Choice

Which of the following is not a true statement about automated clearinghouses (ACHs) ?

• A) Automated clearinghouses are responsible for the check clearing process between commercial banks and the Federal Reserve Banks.
• B) Commercial transactions using automated clearinghouses have been growing at close to 17% per year since 1989.
• C) Debits drawn on automated clearinghouses cost less than half that of checks processed through financial institutions.
• D) The ability to reduce transactions costs and create convenience is driving the growth of automated clearinghouses.

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Definitions:

Relationship Selling

A sales approach that focuses on building long-term relationships with customers rather than on individual transactions.

Multi-Level Marketing

A direct sales strategy where individuals sell products and recruit others to sell, earning commissions from their sales and the sales of the team they recruit.

Loyalty Selling

A sales strategy focused on creating and maintaining long-term relationships with customers to encourage repeat business.

Personal Relationship

A connection between individuals based on emotional or social bonds, often characterized by mutual respect, understanding, and communication.