Consistent Information Asks If the Aggregate or Summary Information Is

question 60

True/False

Consistent information asks if the aggregate or summary information is in agreement with detailed information.

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Definitions:

Payor Bank

The bank on which a check is drawn, responsible for paying the check when it is presented for payment.

Intermediary Banks

Banks that act as mediators in financial transactions between counterparties, especially in international banking when a direct transaction is not possible.

Unconditional Promise

A pledge or commitment that is absolute and not subject to any conditions or contingencies.

Sum Certain

A specified amount agreed upon within a contract that is clear and not subject to change.