When a Check Is Drawn and Cleared, the

question 246

Multiple Choice

When a check is drawn and cleared, the

• A) reserves and deposits of both the bank against which the check is cleared and the bank receiving the check are unchanged by this transaction.
• B) bank against which the check is cleared loses reserves and deposits equal to the amount of the check.
• C) bank receiving the check loses reserves and deposits equal to the amount of the check.
• D) bank against which the check is cleared acquires reserves and deposits equal to the amount of the check.

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Definitions:

Self-Confidence

The subjective sense of trust in one's abilities, qualities, and judgment, influencing an individual's approach to challenges, relationships, and responsibilities.

Minority Opinions

Views or beliefs that are held by a smaller segment of a group, contrasting with the majority viewpoint.

Carefully Processed

Pertaining to information or data that has been meticulously examined or considered with attention to detail and accuracy.

Distinctive

Having a unique quality or characteristic that sets someone or something apart from others.