Suppliers are more often being paid through _____, which is the automatic transfer of payment from the buyer's bank account to the supplier's bank account.
A)RFQ
B)EFT
C)MRO
D)PO
E)None of these answers.

Question

Quizplus · Accepted Answer

Electronic Funds Transfer (EFT) is the common method of transferring funds directly from one bank account to another without the use of a paper check. Therefore, it is the most appropriate choice for the automatic transfer of payment from the buyer's bank account to the supplier's bank account. RFQ (Request for Quotation) is a document used in procurement to request price and delivery information from suppliers. MRO (Maintenance, Repair, and Operations) refers to the materials and supplies used to support ongoing operations within an organization. PO (Purchase Order) is a document sent from a buyer to a supplier to confirm the details of the purchase, including specifications, quantities, prices, and delivery dates.

Suppliers Are More Often Being Paid Through _____, Which Is