____________________ Representation Is More Independent of District Opinion Than ____________________

question 54

Multiple Choice

____________________ representation is more independent of district opinion than ____________________ representation.

• A) delegate/descriptive
• B) descriptive/substantive
• C) substantive/trustee
• D) delegate/trustee
• E) trustee/delegate

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Definitions:

Depositary Bank

A financial institution that holds and manages the securities of a company, facilitating the exchange of securities and ensuring compliance with the regulations.

Check Collection

The process where banks handle checks from the moment they are deposited until the funds are credited to the depositor's account and debited from the check writer's account.

Payment

The act of giving money or other compensation to settle a debt or obligation.

Certified Checks

Checks guaranteed by a bank, verifying that the signer has enough funds in their account to cover the amount specified on the check.