Chapter 14, Problem 23AA

a)

To determine

To ascertain: The work that“C” is doing presently and strategy to identify his work.

Explanation of Solution

From the given image, it can be said that “C” is working as a financial consultant because it is doing the works like filling the credit card online application. Such type of financial related work is basically done by the financial consultants.

Economics Concept Introduction

Introduction: In the business, the role of finance is to make enough funds are sufficient for working, and that you spend and invest wisely. The business finance value lies in the ability that it maintains the smoothness of business and its prevent the out of cash situation and also attracts long term funds.

b)

To determine

To ascertain: The reason for manager’s concern about the work progress by “C”’s doing online.

Explanation of Solution

The manager is asking the “C” to be very careful regarding filling online applications because it contains personal data and any kind of careless can lead to hacking the account. As a result, money can be illegally be drawn without the knowledge of the account owner.

Economics Concept Introduction

Introduction: Managers are responsible for organizing and managing financial institutions' organizational activities, such as banks, building societies, or credit unions. We supervise the activities at the front office, have high support from customers and lead daily staff meetings and training sessions.

c)

To determine

To evaluate:The reason for“C” seem unconcerned about the possibility of identifying personal data by hackers?

Explanation of Solution

From the cartoon it can be said the “C” seems to be not interested in the possibility of identity may be due to various laws implement related to such crime.

If credit information is covered under the Equal Credit Billing Act and the Electronic Fund Transfer Act is compromised then the person is not responsible for any fraudulent charges so the person records the loss before using the credit card.

Economics Concept Introduction

Introduction: The Electronic Fund Transfer Act (EFTA), also known as Regulation E, has been introduced to protect customers by using electronic financial management. The EFTA allows customers to appeal violations and get them rectified with minimal financial penalties within a span.