The Following Are Commonly Used Terms to Describe Banks in the Collection

question 64

Multiple Choice

The following are commonly used terms to describe banks in the collection system except:

• A) the collecting bank.
• B) the depository bank.
• C) the intermediary bank.
• D) the maker bank.
• E) the payer bank.

---

Definitions:

Job Rotation

A method where employees are moved between two or more jobs in a planned manner to expose them to different experiences and wider aspects of an organization, enhancing versatility and reducing monotony.

Processes

Defined as a series of actions or steps taken to achieve a particular end.

Subsidiary

A company that is controlled by another corporation, often referred to as the parent company, through ownership of a majority of its voting stock.

Management Development

Programs and activities designed to enhance the skills, knowledge, and abilities of managers and potential managers.