The direct deposit of paycheques and the automatic withdrawal from a bank account of monthly expenses are examples of ______________.

Question

Quizplus · Accepted Answer

The direct deposit of paycheques and automatic withdrawal of monthly expenses are examples of financial electronic data interchange, which is the computer-to-computer exchange of business documents electronically between organizations. The other options listed (collection float, lockbox arrangements, float management, short-term financing options) are not directly related to these examples.

The Direct Deposit of Paycheques and the Automatic Withdrawal from a Bank