2-3 Forms of Financial Exchange Business U

What does ACH stand for in financial transactions?

• Automated Clearing House

• Automated Cash Handling

• Advanced Credit Handling

• Automated Check House

What is a blockchain?

• A centralized database

• A digital ledger distributed across a network of computers

• A type of credit card

• A form of physical currency

What happens when a check is bounced?

• It is processed successfully

• It is returned to the issuer due to insufficient funds

• It is converted into cash

• It is deposited into the payee's account

What is a check?

• A form of payment that is dated and signed by the payor

• A digital currency

• A type of credit card

• A bank account

What is a checking account?

• A deposit account for easy and frequent cash deposits and withdrawals

• A type of credit card

• A savings account

• A loan account

What occurs when an account's balance goes below zero?

• Payor

• Payee

• Overdraft

• Wire Transfer

What is a credit card used for?

• Purchasing goods and services on credit

• Depositing cash

• Withdrawing cash

• Storing digital currency

What are physical forms of money called?

• Checks

• Cryptocurrency

• Cash

• Credit

What is cryptography?

• The study of physical currency

• The study of techniques to secure digital information

• A type of bank account

• A form of payment

A software-based system that securely stores users' payment information and passwords for numerous payment methods and websites, enabling transactions to be made electronically through a computer or smartphone.

• Digital Wallet

• EFT

• Debit Card

• Credit Card