Business High School

what is automated teller machine car
state 4 advantages of using automated machine

Answers

Answer 1

Answer:

An automated teller machine is an electronic machine that allows the transaction of money from one's account.

Advantages of the ATM are-

1. It provides easy access to one's account.

2. It saves time and energy.

3. It reduces the workload of the bank employees.

4. Its service is available anywhere 24/7.

Explanation:

An automated teller machine (ATM) is an electronic machine that allows an individual to complete basic transactions without the need for any bank personnel to help. This type of machine is generally used to withdraw and deposit cash from and into one's bank account.

Four advantages of an automated teller machine are-

1) It provides convenience to the customers, saving one's energy and time.

2) Its service is available 24/7.

3) It allows access to one's account anywhere.

4) It reduces the workload of the bank employees.  

Answer 2

An Automated Teller Machine (ATM) car refers to a vehicle equipped with an ATM, typically used for mobile banking services in locations where a fixed ATM is not available or convenient.

Advantages of using an Automated Teller Machine (ATM) include:

Convenience: ATMs offer 24/7 access to banking services, allowing users to withdraw cash or perform various transactions at their convenience. With an ATM car, this convenience can be extended to different locations, such as events, rural areas, or areas with limited banking infrastructure.

Accessibility: ATMs provide accessibility to banking services for individuals who may not have access to a nearby bank branch. The mobility of an ATM car can further enhance accessibility, reaching underserved or remote areas where  may be limited.

Time Savings: Using an ATM can save time compared to traditional banking methods. With an ATM car, users can access banking services without the need to travel to a physical branch, reducing time spent commuting and waiting in queues.

Privacy and Security: ATMs provide a secure and private environment for conducting financial transactions. Using an ATM car can enhance security by ensuring that the machine is monitored, maintained, and operated by authorized personnel.

This can instill confidence in users, knowing that their transactions are conducted in a controlled and secure setting.

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Related Questions


Required Journal entry
Paid salary and wages Rs 55,000
PLEASE HELP
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Answers

Answer:

Date                 Account Title                                        Debit              Credit

XX-XX-XX       Salary and Wages expense              Rs. 55,000

                        Cash                                                                          Rs. 55,000

The Salaries and Wages expense account will be debited to show that this expense was incurred as expenses have a debit balance,

Cash was used to pay for the salaries and wages so it will be credited because Assets are credited when they reduce.

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