The Ability to Shop Over the Internet 24 Hours a Day,7

question 36

Multiple Choice

The ability to shop over the Internet 24 hours a day,7 days a week provides consumers with __________ utility.

• A)form
• B)time
• C)convenience
• D)possession
• E)performance

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Definitions:

Zero-balance Account

A checking account set up to maintain a balance of zero by automatically transferring funds from a master account in the exact amount of transactions.

Miller-Orr Model

A financial model used for managing cash balances by setting upper and lower limits on cash reserves.

Upper Cash Limit

The maximum cash balance a company sets to hold on hand, beyond which excess funds are usually invested in short-term securities.

Lockbox Services

Banking services that process payments for companies by collecting and depositing checks into their accounts.