Electronic Funds Transfer System (EFTS) The official banking term for computer money transferring is the electronic funds transfer system, or EFTS. There are basically three parts to an EFT system ： teller machines, point-of- sale systems, and automated clearinghouses. Teller machines. Recent EFTS developments have involved teller machines. They are also called customer bank communication terminals or remote service units. They are located either on the bank's premises or in stores such as supermarkets or drugstores. Automated teller machines receive deposits, dispense funds from checking or savings accounts.make cash advances on credit card accounts, and receive payment. The device is connected online to the bank’s computers. Point-of-Sale systems. Such systems allow the consumer transfer founds to merchants in order to make purchases. Online terminals are located at check-out in the merchant's store. When the customer make a purchase.His or her card is inserted into the terminal, which reads the data. encoded on it. The computer at the customer's bank verifies that the card and identification code are valid and that there is enough money in the customer's account. The customer's account is instantaneously debited, and the merchant’s account credited, for the amount of the purchase. Automated clearinghouses. Such clearinghouses are similar to ones in use in which checks are cleared between banks. The main difference is that the entries made are in the form of electronic signals-there are no checks used. Thus, this is not a system for further automating the handling of paper checks. It is a replacement system. Such systems are especially useful for recurrent payments like payroll Social Security, or pension fund plans that are made every week or every month. Money Still ExistsWhat does an EFTS and. in particular, a point-of-sale system do to the money supply? The answer is "nothing". In a cashless,checkless society, you would still need a checking account balance (demand deposits) ON which to draw even though you did not physically write a check. You would have to deposit your paychecks into your account (or have it done by your employer) at the beginning of each month, just as you might do now. The basic advantage of a cashless, checkless society is that it is a means of reducing the costs associated with exchange. After all, it is estimated that the banking system spends over $7 billion annually just to process 32 billion checks. Will the cashless, checkless society make household budgeting more difficult? Not necessarily. Many expenses eachmonth are fixed, such as car and house payments. Payingthem automatically will not alter your spending behavior. Moreover, you would get a statement at the end of each month on your transaction, just as you do now. Since we are all faced with a budget constraint, using EFTS cannot alter the total amount of income that we are able to spend. The total money supply will not be affected by switching to EFTS, either. To say that in the future we will not use money is an incorrect view of any electronic funds transfer system. Money is here to stay. We can infer from the passage that_____.

Passage 2：As a manager in the service industry sector, I've looked at hundreds of CVs in my time. They are not necessarily the bland documents some bosses might think they are! They are full of little pointers towards individuals* personalities and suitability for the job. The first thing I always look at is an applicant's employment record. I check for continuity and stability. If somebody has a long list of precious jobs, all of warning length, alarm bells start ringing.Rather than an irregular route from job, what I hope to see is stable career progression. What does their career path look like—is it all steps forward, or are there a lot of sideways moves? And I am always pleased to find a family person with children, because in my experience they tend to be responsible and reliable.I never rely on CVs alone. We get applicants to fill in one of our own application forms. We ask why they've applied, what their aspirations and personal goals are, and also about their interests and hobbies and any clubs they belong to.That gives you a useful insight into their personality and lifestyle. The application form also enables to test how much people have actually been progressing in their careers. because we ask for details of the salaries they have received for each job.It's always worth looking at CVs and designing application forms with great care. Taking on employees might be rewarding, but it is also a big investment for any business. Mistakes in choosing staff can cost companies dear, so it makes sense to spend time ensuring you get the right person.In the service sector, one of the aims of companies is to maintain and improve customer service, and this is achieved partly through low staff turnover. You need to take on people who understand that, and will want to stay. That’s why, when you’ve taken staff on, the next thing is getting the best out of them.My management style comes from the days when I took over my first business, an ailing road haulage firm which I was certain I could turn into a profitable company. The first thing is to treat others as you'd like to be treated yourself. As soon as I took over the business, I talked to everybody individually, and looked for ways to make sure their particular skills benefited the company.I didn't have much experience then of managing people, but above all I always tried to be fair and honest with everyone. As a result, I think the staff knew that and accepted my decisions, even if they didn't agree with them all. Also, bosses must be able to communicate. You also need to create team spirit, and build on the strength of the team. I explained my plans for the company to all the staff, and let them all know what I needed from them. The lorry drivers responded brilliantly, and were the key to turning the business round. They understood that we had to develop a professional reputation, and from then on the days of poor quality deliveries were over.Lastly, I am a great believer in profit-sharing. It takes a team to make a company work, so profits should be shared by all. Job satisfaction is important, but it doesn't pay the rent. Shared profit and bonuses help to strengthen team spirit by giving everyone a common goal that they work towards together. What fact does the writer hope to learn from applicants' CVs?

Passage 2：As a manager in the service industry sector, I've looked at hundreds of CVs in my time. They are not necessarily the bland documents some bosses might think they are! They are full of little pointers towards individuals* personalities and suitability for the job. The first thing I always look at is an applicant's employment record. I check for continuity and stability. If somebody has a long list of precious jobs, all of warning length, alarm bells start ringing.Rather than an irregular route from job, what I hope to see is stable career progression. What does their career path look like—is it all steps forward, or are there a lot of sideways moves? And I am always pleased to find a family person with children, because in my experience they tend to be responsible and reliable.I never rely on CVs alone. We get applicants to fill in one of our own application forms. We ask why they've applied, what their aspirations and personal goals are, and also about their interests and hobbies and any clubs they belong to.That gives you a useful insight into their personality and lifestyle. The application form also enables to test how much people have actually been progressing in their careers. because we ask for details of the salaries they have received for each job.It's always worth looking at CVs and designing application forms with great care. Taking on employees might be rewarding, but it is also a big investment for any business. Mistakes in choosing staff can cost companies dear, so it makes sense to spend time ensuring you get the right person.In the service sector, one of the aims of companies is to maintain and improve customer service, and this is achieved partly through low staff turnover. You need to take on people who understand that, and will want to stay. That’s why, when you’ve taken staff on, the next thing is getting the best out of them.My management style comes from the days when I took over my first business, an ailing road haulage firm which I was certain I could turn into a profitable company. The first thing is to treat others as you'd like to be treated yourself. As soon as I took over the business, I talked to everybody individually, and looked for ways to make sure their particular skills benefited the company.I didn't have much experience then of managing people, but above all I always tried to be fair and honest with everyone. As a result, I think the staff knew that and accepted my decisions, even if they didn't agree with them all. Also, bosses must be able to communicate. You also need to create team spirit, and build on the strength of the team. I explained my plans for the company to all the staff, and let them all know what I needed from them. The lorry drivers responded brilliantly, and were the key to turning the business round. They understood that we had to develop a professional reputation, and from then on the days of poor quality deliveries were over.Lastly, I am a great believer in profit-sharing. It takes a team to make a company work, so profits should be shared by all. Job satisfaction is important, but it doesn't pay the rent. Shared profit and bonuses help to strengthen team spirit by giving everyone a common goal that they work towards together. The writer says the application form is useful because it（）

Passage 2：As a manager in the service industry sector, I've looked at hundreds of CVs in my time. They are not necessarily the bland documents some bosses might think they are! They are full of little pointers towards individuals* personalities and suitability for the job. The first thing I always look at is an applicant's employment record. I check for continuity and stability. If somebody has a long list of precious jobs, all of warning length, alarm bells start ringing.Rather than an irregular route from job, what I hope to see is stable career progression. What does their career path look like—is it all steps forward, or are there a lot of sideways moves? And I am always pleased to find a family person with children, because in my experience they tend to be responsible and reliable.I never rely on CVs alone. We get applicants to fill in one of our own application forms. We ask why they've applied, what their aspirations and personal goals are, and also about their interests and hobbies and any clubs they belong to.That gives you a useful insight into their personality and lifestyle. The application form also enables to test how much people have actually been progressing in their careers. because we ask for details of the salaries they have received for each job.It's always worth looking at CVs and designing application forms with great care. Taking on employees might be rewarding, but it is also a big investment for any business. Mistakes in choosing staff can cost companies dear, so it makes sense to spend time ensuring you get the right person.In the service sector, one of the aims of companies is to maintain and improve customer service, and this is achieved partly through low staff turnover. You need to take on people who understand that, and will want to stay. That’s why, when you’ve taken staff on, the next thing is getting the best out of them.My management style comes from the days when I took over my first business, an ailing road haulage firm which I was certain I could turn into a profitable company. The first thing is to treat others as you'd like to be treated yourself. As soon as I took over the business, I talked to everybody individually, and looked for ways to make sure their particular skills benefited the company.I didn't have much experience then of managing people, but above all I always tried to be fair and honest with everyone. As a result, I think the staff knew that and accepted my decisions, even if they didn't agree with them all. Also, bosses must be able to communicate. You also need to create team spirit, and build on the strength of the team. I explained my plans for the company to all the staff, and let them all know what I needed from them. The lorry drivers responded brilliantly, and were the key to turning the business round. They understood that we had to develop a professional reputation, and from then on the days of poor quality deliveries were over.Lastly, I am a great believer in profit-sharing. It takes a team to make a company work, so profits should be shared by all. Job satisfaction is important, but it doesn't pay the rent. Shared profit and bonuses help to strengthen team spirit by giving everyone a common goal that they work towards together. According to the writer, why are CVs and application forms important?

Passage 2：As a manager in the service industry sector, I've looked at hundreds of CVs in my time. They are not necessarily the bland documents some bosses might think they are! They are full of little pointers towards individuals* personalities and suitability for the job. The first thing I always look at is an applicant's employment record. I check for continuity and stability. If somebody has a long list of precious jobs, all of warning length, alarm bells start ringing.Rather than an irregular route from job, what I hope to see is stable career progression. What does their career path look like—is it all steps forward, or are there a lot of sideways moves? And I am always pleased to find a family person with children, because in my experience they tend to be responsible and reliable.I never rely on CVs alone. We get applicants to fill in one of our own application forms. We ask why they've applied, what their aspirations and personal goals are, and also about their interests and hobbies and any clubs they belong to.That gives you a useful insight into their personality and lifestyle. The application form also enables to test how much people have actually been progressing in their careers. because we ask for details of the salaries they have received for each job.It's always worth looking at CVs and designing application forms with great care. Taking on employees might be rewarding, but it is also a big investment for any business. Mistakes in choosing staff can cost companies dear, so it makes sense to spend time ensuring you get the right person.In the service sector, one of the aims of companies is to maintain and improve customer service, and this is achieved partly through low staff turnover. You need to take on people who understand that, and will want to stay. That’s why, when you’ve taken staff on, the next thing is getting the best out of them.My management style comes from the days when I took over my first business, an ailing road haulage firm which I was certain I could turn into a profitable company. The first thing is to treat others as you'd like to be treated yourself. As soon as I took over the business, I talked to everybody individually, and looked for ways to make sure their particular skills benefited the company.I didn't have much experience then of managing people, but above all I always tried to be fair and honest with everyone. As a result, I think the staff knew that and accepted my decisions, even if they didn't agree with them all. Also, bosses must be able to communicate. You also need to create team spirit, and build on the strength of the team. I explained my plans for the company to all the staff, and let them all know what I needed from them. The lorry drivers responded brilliantly, and were the key to turning the business round. They understood that we had to develop a professional reputation, and from then on the days of poor quality deliveries were over.Lastly, I am a great believer in profit-sharing. It takes a team to make a company work, so profits should be shared by all. Job satisfaction is important, but it doesn't pay the rent. Shared profit and bonuses help to strengthen team spirit by giving everyone a common goal that they work towards together. One reason why the writer was successful in her first business was that ________

Passage 2：As a manager in the service industry sector, I've looked at hundreds of CVs in my time. They are not necessarily the bland documents some bosses might think they are! They are full of little pointers towards individuals* personalities and suitability for the job. The first thing I always look at is an applicant's employment record. I check for continuity and stability. If somebody has a long list of precious jobs, all of warning length, alarm bells start ringing.Rather than an irregular route from job, what I hope to see is stable career progression. What does their career path look like—is it all steps forward, or are there a lot of sideways moves? And I am always pleased to find a family person with children, because in my experience they tend to be responsible and reliable.I never rely on CVs alone. We get applicants to fill in one of our own application forms. We ask why they've applied, what their aspirations and personal goals are, and also about their interests and hobbies and any clubs they belong to.That gives you a useful insight into their personality and lifestyle. The application form also enables to test how much people have actually been progressing in their careers. because we ask for details of the salaries they have received for each job.It's always worth looking at CVs and designing application forms with great care. Taking on employees might be rewarding, but it is also a big investment for any business. Mistakes in choosing staff can cost companies dear, so it makes sense to spend time ensuring you get the right person.In the service sector, one of the aims of companies is to maintain and improve customer service, and this is achieved partly through low staff turnover. You need to take on people who understand that, and will want to stay. That’s why, when you’ve taken staff on, the next thing is getting the best out of them.My management style comes from the days when I took over my first business, an ailing road haulage firm which I was certain I could turn into a profitable company. The first thing is to treat others as you'd like to be treated yourself. As soon as I took over the business, I talked to everybody individually, and looked for ways to make sure their particular skills benefited the company.I didn't have much experience then of managing people, but above all I always tried to be fair and honest with everyone. As a result, I think the staff knew that and accepted my decisions, even if they didn't agree with them all. Also, bosses must be able to communicate. You also need to create team spirit, and build on the strength of the team. I explained my plans for the company to all the staff, and let them all know what I needed from them. The lorry drivers responded brilliantly, and were the key to turning the business round. They understood that we had to develop a professional reputation, and from then on the days of poor quality deliveries were over.Lastly, I am a great believer in profit-sharing. It takes a team to make a company work, so profits should be shared by all. Job satisfaction is important, but it doesn't pay the rent. Shared profit and bonuses help to strengthen team spirit by giving everyone a common goal that they work towards together. Which would make the best title for this text?