EFT payments are less expensive for a company because there is a reduced need for internal control

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"EFT payments are less expensive for a company because there is a reduced need for internal control as compared with writing cheques." Is this correct? Why or why not?

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Accounting Principles Part 1

ISBN: 978-1118306789

6th Canadian edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

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Question Posted: Mar 15, 2017 11:22 AM

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EFT payments are less expensive for a company because there is a reduced need for internal control

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This statement is incorrect The use of EFT for cash payments will result ...View the full answer

Accounting Principles Part 1

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