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Which of the Following Statements Is Incorrect

question 2

Multiple Choice

Which of the following statements is incorrect?


Definitions:

Processing

The act of handling or manipulating data, transactions, or physical items in a prescribed manner.

Financial Electronic Data Interchange

A system that allows the transfer of financial information between organizations in a standardized electronic format.

Direct Deposit

An electronic payment method where funds are transferred directly into the recipient's bank account, bypassing the need for physical checks.

Automatic Withdrawal

A banking process where funds are automatically taken from a bank account to fulfill a financial commitment.

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