Multiple Choice
Which of the following is an institution created to facilitate the exchange of checks and drafts drawn by banks on one another, as well as to enable banks to settle their daily balances?
A) A clearinghouse
B) A transferring institution
C) A facilitating institution
D) An acknowledging institution
E) An approval institution
Correct Answer:
Verified
Correct Answer:
Verified
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Q18: A bank involved in the check collection
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Q20: The bank upon which a check is
Q21: The Electronic Fund Transfer Act of 1978