Asked by Julie Smith on May 28, 2024
Verified
Electronic funds transfers (EFTs)are decreasingly used by companies due to the inconvenience and high cost.
Electronic Funds Transfers
The electronic transfer of money between accounts by consumer electronic systems rather than the exchange of cash, checks, or other paper documents.
- Comprehend the significance and influence of technology in improving internal control processes.
Verified Answer
EF
Eliza FrauenfelderMay 29, 2024
Final Answer :
False
Explanation :
This statement is false. EFTs are actually increasing in popularity because they are faster, more secure, and often more cost-effective than traditional paper transactions.
Learning Objectives
- Comprehend the significance and influence of technology in improving internal control processes.
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