Question $9$

$2$ tries left

What is financial electronic data interchange $($FEDI$)?$

A$.$ It is a lockbox arrangement in which the bank electronically sends

the company information about the customer account number

and the amount remitted as soon as it receives payments.

B$.$ It is a document listing names and amounts of all customer

payments received in the mail.

C$.$ It is the combination of EFT and EDI that enables both remittance

data and funds transfer instructions to be included in one

electronic package.

D$.$ It is the transfer of funds through use of online banking software.