as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain the difference between parallel and serial communication in computers.
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parallel communication is a type of data transmission in which multiple bits of data are sent simultaneously in order to increase transfer speeds. serial communication is when bits of data are sent one bit at a time over a single line, with the sender and receiver both knowing exactly when each bit is received. parallel communication is faster than serial, but it is also more expensive. serial communication is slower and cheaper, but provides greater flexibility.
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