Which of the following statements is true regarding electronic funds transfer (EFT)?

Question

Lawrence Bargers · Accepted Answer

EFT eliminates payment delays due mostly to the introduction of automated cash controls,

Lawrence Bargers · Answer

EFT is a popular mechanism for improving efficiency, but results in less internal control.

Lawrence Bargers · Answer

EFT significantly reduces the risk of fraud by eliminating the need for authorizations.

Lawrence Bargers · Answer

EFT makes use of numerous automated controls, but is still vulnerable to fraudulent accounting entries.

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