The direct deposit of paycheques and the automatic withdrawal from a bank account of monthly expenses are examples of ______________.

A) Financial electronic data interchange.
B) Collection float.
C) Lockbox arrangements.
D) Float management.
E) Short-term financing options.

Financial Electronic Data Interchange

A system that allows the transfer of financial information between organizations in a standardized electronic format.

Direct Deposit

An electronic payment method where funds are transferred directly into the recipient's bank account, bypassing the need for physical checks.

Automatic Withdrawal

A banking process where funds are automatically taken from a bank account to fulfill a financial commitment.