Which of the following statements about an electronic funds transfer (EFT) is false? Multiple Choice O EFT are checks written by the depositor, subtracted on the depositor's books, and sent to the payee but not yet turned in for payment at the bank statement date. Companies are increasingly using EFT because of its convenience and low cost. Payroll, rent, utilities, insurance, and interest payments are usually done by EFT. EFT is the electronic transfer of cash from one party to another. Cash receipts by EFT are listed with deposits and other additions.

Which of the following statements about on ciectronic funds transfer (EFT) is false? Multiple Choice EFT are checks written by the depositot, subtrocted on the depositor's books, and sent to the payee but not yet turned in for payment at the bank statement date. Companies ace incteasingly using EFT because of its convenience and low cost. Payoll, rent, witities, insurance, and interest payments are visually done by ErT. CFT is the electronic transfer of cash from one party to another. Cash receipts by EFT are listed with deposts and other additions