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 the above.

Question

Quizplus · Accepted Answer

Electronic Fund Transfer (EFT) is the automatic transfer of payment from the buyer's bank account to the supplier's bank account. This method of payment is becoming increasingly popular and is often preferred over traditional methods like checks or wire transfers because it is faster, safer, and more cost-effective. RFQ (Request for Quotation), MRO (Maintenance, Repair, and Operations), and PO (Purchase Order) are not methods of payment but rather procurement processes.

Suppliers Are More Often Being Paid Through _____, Which Is