EFT Definition

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EFT see ELECTRONIC FUNDS TRANSFER.

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BALANCING OFF THE BOOKS means totaling off the various amounts to find out how much money is left or, how overdrawn the organization is. At certain times; e.g. once a month, quarterly, for management committee meetings; it may be necessary to balance off the books".

DISHONORED NOTE is a note on which a debtor has defaulted.

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