Which of the Following Is True About Electronic Check Presentment

question 17

Multiple Choice

Which of the following is true about electronic check presentment?

• A) The UCC is silent as to electronic check presentment.
• B) The individual who encodes the information from the check does not need to warrant that the information is correct.
• C) Only the actual check may be transmitted for payment between banks.
• D) Banks may transmit substitute checks, instead of the actual checks, for payment between banks.
• E) It is not possible process checks on the day of deposit.

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Definitions:

Invisible Hand

a metaphor introduced by Adam Smith to describe the self-regulating behavior of the marketplace, where individual self-interests promote the good of the community.

Economist

A professional who studies how societies use resources to produce goods and services and distribute them among various groups.

Wealth Of Nations

Refers to "The Wealth of Nations," an influential book by Adam Smith that outlines the basics of free market economics.

Government Intervention

Government intervention refers to regulatory actions taken by a government to affect or influence the economy, market operations, or social welfare.