Question

A _______ deposit is initiated by an EFT instructing a bank to transfer pay due employees into the employees' bank accounts.

a) Direct deposit

b) Cash

c) Check

d) Payroll

Answer 1

The correct answer is Direct deposit. A direct deposit is initiated by an Electronic Funds Transfer (EFT) instructing a bank to transfer pay due employees into their bank accounts. This method is convenient for both employers and employees as it eliminates the need for paper checks and reduces the risk of lost or stolen payments.

Step-by-step explanation:

The correct answer is Direct deposit. A direct deposit is initiated by an Electronic Funds Transfer (EFT) instructing a bank to transfer pay due employees into their bank accounts. This method is convenient for both employers and employees as it eliminates the need for paper checks and reduces the risk of lost or stolen payments.