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Which of the following statements about cash received through electronic funds transfer ( EFT ) is true? a . EFTs reduce internal controls over cash
Which of the following statements about cash received through electronic funds transfer EFT is true?
a EFTs reduce internal controls over cash since the cash is received directly by the bank without any employees handling cash.
b EFTs speed up the processing of cash receipts.
c EFTs cost more than cash payments through the mail.
d EFTs increase the risk of late payments from customers.
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