If First Bank Receives a Check for Collection on Friday

question 43

True/False

If First Bank receives a check for collection on Friday at 4:30 p.m., it does not have to present the check to the payor bank by midnight Saturday.

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Definitions:

Micrometers

Units of length equal to one millionth of a meter, commonly used in science and engineering for precise measurements.

Millimeters

A metric unit of length equal to one thousandth of a meter, often used to measure small distances or dimensions.

Micrometers

Precision measuring devices capable of measuring extremely small distances, such as the thickness or diameter of an object.

Millimeters

A unit of length in the metric system, equal to one thousandth of a meter.