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Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Electronic funds transfer does not use paper

Checks

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An electronic fund transfer transfers cash from one account to another. The accounts can be at the same monetary institution or two different monetary institutions. The deal is done electronically over a computerized system.

EFT dealings are also mentioned as electronic banking. The whole thing is done paper-free, so there isn’t a necessity for cash or paper checks.

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