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Among the below given, choose which one is not a correct statement in context to the POS system?
  • a)
    The terminal interacts with a computer file to approve transactions and transmits sales information for posting against customer accounts.
  • b)
    There are two basic types of POS terminals: electronic cash registers, dial-up terminals.
  • c)
    A POS terminal is predominantly used for payment for sale and purchase transactions, while an ATM can be used for several other services like balance enquiry.
  • d)
    POS is a physical transaction terminal used in a sales system.
Correct answer is option 'D'. Can you explain this answer?
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Among the below given, choose which one is not a correct statement in ...
  • POS is simply an electronic transaction terminal used in an electronic Point of Sale system.
  • The terminal interacts with a computer file to approve transactions and transmits sales information for posting against customer accounts.
  • There are two basic types of POS terminals: electronic cash registers that are used by high volume merchants, such as department stores, and dial-up terminals that automatically dial a special telephone number, often a toll-free number, to obtain authorization.
  • Net Settlement when the transfer of funds actually takes place, may occur at the same time or soon afterward, or it may occur later in the day in POS systems that operate Off-Line in a Store and Forward mode. This type of system operates off-line, that is, the merchant terminal is not connected directly to a central computer for authorization or processing of sales receipts.
  • A POS terminal is predominantly used for payment for sale and purchase transactions, while an ATM can be used for several other services like balance enquiry.
  • Hence, option (d) is the correct choice.
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Among the below given, choose which one is not a correct statement in context to the POS system?a)The terminal interacts with a computer file to approve transactions and transmits sales information for posting against customer accounts.b)There are two basic types of POS terminals: electronic cash registers, dial-up terminals.c)A POS terminal is predominantly used for payment for sale and purchase transactions, while an ATM can be used for several other services like balance enquiry.d)POS is a physical transaction terminal used in a sales system.Correct answer is option 'D'. Can you explain this answer?
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Among the below given, choose which one is not a correct statement in context to the POS system?a)The terminal interacts with a computer file to approve transactions and transmits sales information for posting against customer accounts.b)There are two basic types of POS terminals: electronic cash registers, dial-up terminals.c)A POS terminal is predominantly used for payment for sale and purchase transactions, while an ATM can be used for several other services like balance enquiry.d)POS is a physical transaction terminal used in a sales system.Correct answer is option 'D'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Among the below given, choose which one is not a correct statement in context to the POS system?a)The terminal interacts with a computer file to approve transactions and transmits sales information for posting against customer accounts.b)There are two basic types of POS terminals: electronic cash registers, dial-up terminals.c)A POS terminal is predominantly used for payment for sale and purchase transactions, while an ATM can be used for several other services like balance enquiry.d)POS is a physical transaction terminal used in a sales system.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Among the below given, choose which one is not a correct statement in context to the POS system?a)The terminal interacts with a computer file to approve transactions and transmits sales information for posting against customer accounts.b)There are two basic types of POS terminals: electronic cash registers, dial-up terminals.c)A POS terminal is predominantly used for payment for sale and purchase transactions, while an ATM can be used for several other services like balance enquiry.d)POS is a physical transaction terminal used in a sales system.Correct answer is option 'D'. Can you explain this answer?.
Solutions for Among the below given, choose which one is not a correct statement in context to the POS system?a)The terminal interacts with a computer file to approve transactions and transmits sales information for posting against customer accounts.b)There are two basic types of POS terminals: electronic cash registers, dial-up terminals.c)A POS terminal is predominantly used for payment for sale and purchase transactions, while an ATM can be used for several other services like balance enquiry.d)POS is a physical transaction terminal used in a sales system.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Banking Exams. Download more important topics, notes, lectures and mock test series for Banking Exams Exam by signing up for free.
Here you can find the meaning of Among the below given, choose which one is not a correct statement in context to the POS system?a)The terminal interacts with a computer file to approve transactions and transmits sales information for posting against customer accounts.b)There are two basic types of POS terminals: electronic cash registers, dial-up terminals.c)A POS terminal is predominantly used for payment for sale and purchase transactions, while an ATM can be used for several other services like balance enquiry.d)POS is a physical transaction terminal used in a sales system.Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Among the below given, choose which one is not a correct statement in context to the POS system?a)The terminal interacts with a computer file to approve transactions and transmits sales information for posting against customer accounts.b)There are two basic types of POS terminals: electronic cash registers, dial-up terminals.c)A POS terminal is predominantly used for payment for sale and purchase transactions, while an ATM can be used for several other services like balance enquiry.d)POS is a physical transaction terminal used in a sales system.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Among the below given, choose which one is not a correct statement in context to the POS system?a)The terminal interacts with a computer file to approve transactions and transmits sales information for posting against customer accounts.b)There are two basic types of POS terminals: electronic cash registers, dial-up terminals.c)A POS terminal is predominantly used for payment for sale and purchase transactions, while an ATM can be used for several other services like balance enquiry.d)POS is a physical transaction terminal used in a sales system.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Among the below given, choose which one is not a correct statement in context to the POS system?a)The terminal interacts with a computer file to approve transactions and transmits sales information for posting against customer accounts.b)There are two basic types of POS terminals: electronic cash registers, dial-up terminals.c)A POS terminal is predominantly used for payment for sale and purchase transactions, while an ATM can be used for several other services like balance enquiry.d)POS is a physical transaction terminal used in a sales system.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Among the below given, choose which one is not a correct statement in context to the POS system?a)The terminal interacts with a computer file to approve transactions and transmits sales information for posting against customer accounts.b)There are two basic types of POS terminals: electronic cash registers, dial-up terminals.c)A POS terminal is predominantly used for payment for sale and purchase transactions, while an ATM can be used for several other services like balance enquiry.d)POS is a physical transaction terminal used in a sales system.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice Banking Exams tests.
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