Examlex
Which of the following statements is false?
Nonsufficient Funds
Nonsufficient funds (NSF) is a term used in banking to indicate that a demand for payment cannot be honored because there are inadequate funds in the account on which the instrument was drawn.
Accounts Receivable
Accounts receivable is the money owed to a business by its clients or customers for goods or services delivered but not yet paid for.
Electronic Funds Transfer
A system that allows the transfer of money between bank accounts without the physical exchange of cash, checks, or other negotiable instruments.
Outstanding Checks
Checks that have been issued and recorded in the payer's financial statements but have not yet been cashed or cleared by the bank.
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