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A childless couple interviewed on TV is just about to pick up their 3-year-old toddler from an orphanage in Romania known for its terrible conditions. They comment: 'love conquers all,' and go on to say, 'by the time he goes to kindergarten, people will think he has grown up here all his life.' Based on the research, is this an accurate prediction? Explain.
Bank Statement
A document issued by a bank detailing transactions, balances, and other financial information over a period of time for a specific account.
Stale Check
A check that is not presented to a bank within six months of its date.
Properly Payable Rule
A principle in banking law where banks are only obligated to pay checks that are correctly drawn up and meet all legal requirements.
Electronic Fund Transfer
The electronic transfer of money between accounts, facilitated by a network of computers, allowing for quick and secure transactions without the need for physical exchange of cash or checks.
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