Electronic funds transfer
A) occurs when a company has a computerized cash register.
B) occurs when a company downloads bank details to a company computer.
C) occurs when a certified cheque is requested.
D) is a system that electronically transfers funds between parties without the use of paper.

Question

Quizplus · Accepted Answer

Electronic funds transfer (EFT) is a system that allows the transfer of money between accounts and between parties using electronic systems and without the need for physical paper checks or cash.

Electronic Funds Transfer