Mobile payment systems such as Square, Paypal,  Venmo, Apple Wallet among others are becoming popular to record business transactions, and transfer payments to or from bank accounts.  Along with mobile payment system, debit and credit cards, actual cash transactions are declining.  How much does a person rely on cash for some of their transactions?  How can financial transactions be audited when using mobile payment systems?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Mobile payment systems such as Square, Paypal,  Venmo, Apple Wallet among others are becoming popular to record business transactions, and transfer payments to or from bank accounts.  Along with mobile payment system, debit and credit cards, actual cash transactions are declining.  How much does a person rely on cash for some of their transactions?  How can financial transactions be audited when using mobile payment systems?

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