Multiple Choice
Assume Doug and Eddie both have checking accounts at Local Bank.On Monday morning,Eddie deposits a check from Doug written on Doug's account at Local Bank.The bank issues a provisional credit to Eddie's account.When is the check considered honored?
A) if the bank does not dishonor the check by the opening of business on Tuesday morning
B) if the bank does not dishonor the check by the opening of business on Wednesday morning
C) if the bank does not dishonor the check by the opening of business on Thursday morning
D) if the bank does not dishonor the check by the opening of business on Friday morning
E) if the bank does not dishonor the check by the close of business on Monday afternoon
Correct Answer:

Verified
Correct Answer:
Verified
Q86: When a customer makes a deposit into
Q87: Promissory notes are the most common form
Q88: Banks cannot charge interest on the overdrafts
Q89: A check where the drawer and payee
Q90: A forged check is never "properly payable."
Q92: Certified checks and cashier's checks are types
Q93: A check can be indorsed multiple times
Q94: The drawer's bank is also known as
Q95: The _ posting rule allows banks to
Q96: The Dodd-Frank Wall Street Reform and Consumer