Grouping Means to Sort Records Plus Provide Extra Report Sections

question 63

True/False

Grouping means to sort records plus provide extra report sections.

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Definitions:

Drawee Bank

The financial institution upon which a check is drawn or which is directed to pay the specified amount.

Collecting Bank

A financial institution involved in processing items for payment, such as checks, on behalf of a depositor.

Collecting Bank

A bank that handles the processing of payments (like checks) on behalf of the payee or a client bank.

Material Alteration

A substantial change to a document or agreement that affects its essence or legal effectiveness.