Multiple choice general knowledge

What is the full form of EFT…..

  1. Engineered Funds Transfer

  2. Electronic Funds Tool

  3. Electronic Funds Transfer

  4. Electronic Fun Transfer
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

EFT stands for Electronic Funds Transfer, the electronic transfer of money from one bank account to another. Option A incorrectly uses 'Engineered' instead of 'Electronic', B incorrectly uses 'Tool' instead of 'Transfer', and D incorrectly uses 'Fun' instead of 'Funds'.

AI explanation

To answer this question, you need to understand the concept of EFT, which stands for Electronic Funds Transfer.

Let's go through each option to understand why it is correct or incorrect:

Option A) Engineered Funds Transfer - This option is incorrect because the correct full form of EFT is Electronic Funds Transfer, not Engineered Funds Transfer.

Option B) Electronic Funds Tool - This option is incorrect because the correct full form of EFT is Electronic Funds Transfer, not Electronic Funds Tool.

Option C) Electronic Funds Transfer - This option is correct. EFT stands for Electronic Funds Transfer, which refers to the electronic exchange of money from one bank account to another.

Option D) Electronic Fun Transfer - This option is incorrect because the correct full form of EFT is Electronic Funds Transfer, not Electronic Fun Transfer.

The correct answer is option C) Electronic Funds Transfer. This option is correct because EFT refers to the electronic exchange of money from one bank account to another.

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