Departmental Contribution to Overhead Is the Amount of Sales for That

question 90

True/False

Departmental contribution to overhead is the amount of sales for that department, less its direct expenses.

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Definitions:

Electronic Fund Systems

Systems that enable the electronic transfer of money from one bank account to another without the direct involvement of bank staff.

Automated Teller Machines

Electronic banking outlets that allow customers to complete transactions without the need for a branch representative.

Direct Deposits

Direct Deposits involve the electronic transfer of a payment directly from the account of the payer to the recipient's account, commonly used for payroll or benefit disbursements.

Float Time

The period between when a bank check is written and when it is actually withdrawn from the payer's account, typically used to advantage cash flow.