As is common payroll procedure for most employers, Penelope's company ________ her paycheck semimonthly into her checking account. This is a paperless process and no check is issued to the employee. By logging into her personnel system, Penelope has record of the net pay that was deposited into her personal checking account and an account of how much was taken out for taxes, Medicare, social security (FICA), and other deductions. Penelope's company has adopted an efficient ________ system.

Question

Quizplus · Accepted Answer

The passage clearly mentions that Penelope's company deposits her paycheck through a paperless process called direct deposit into her checking account. The process involves no issuance of checks and the money gets transferred electronically into the employee's account. This system is known as an electronic funds transfer, making option C the correct choice. Option A mentions 'enterprise funds transfer', which is not a commonly known term and thus cannot be chosen as the correct answer. Option B mentions 'debit', which is only a part of the process and not the complete term. Option D mentions 'smart card', which is not connected to the process mentioned in the passage.

As Is Common Payroll Procedure for Most Employers, Penelope's Company