CampusFin

A nationwide electronic funds transfer network which enables participating banks/financial institutions to distribute electronic credit and debit entries to bank accounts and to settle such entries is termed as _____?

Review the verified answer and explanation for this Audit past-paper question on CampusFin.

A nationwide electronic funds transfer network which enables participating banks/financial institutions to distribute electronic credit and debit entries to bank accounts and to settle such entries is termed as _____? Answer: Clearing house

Question context

This question is part of 📖 Read More... within the broader 📖 Read More... subject and appears in the Audit preparation collection. Reviewing the answer together with nearby questions helps reinforce the underlying concept and identify how it may appear in competitive exams.