A system where customers send their cheques directly to the company's bank account is described as which of the following?
A)An imprest system
B)A bank direct deposit system
C)An encryption system
D)A firewall system

Question

Quizplus · Accepted Answer

A bank direct deposit system is a method where customers send their payments directly to the company's bank account, skipping the physical process of mailing a cheque or cash. This method is also known as electronic funds transfer or EFT. Option A, an imprest system, refers to a predetermined amount of funds set aside for a specific purpose, usually for small expenses or petty cash. Option C, an encryption system, involves converting plain text into a coded format to secure sensitive information. Option D, a firewall system, is a cybersecurity tool used to protect networks and computer systems from unauthorized access.

A System Where Customers Send Their Cheques Directly to the Company's