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.

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Definitions:

Consciousness

The state of being aware of and able to think about one's own existence, sensations, thoughts, surroundings, etc.

Self-regulation

The process by which individuals control their own behavior, emotions, and thoughts, adjusting them in accordance with their goals.

Perceived Control

The belief or perception that one has the ability to influence or direct the outcomes of their actions in their environment.

Delay Gratification

The capacity to forgo an instant gratification in favor of receiving a reward at a future time.