An Objective of the Check 21 Act Is To

question 61

Multiple Choice

An objective of the Check 21 Act is to:

• A) require banks to accept checks in electronic form, thereby reducing paperwork.
• B) make the check collection process faster by transferring files digitally.
• C) enhance fraud detection.
• D) All of these are objectives.
• E) Only to make the check collection process faster by transferring files digitally and to enhance fraud detection.

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Definitions:

Business Report

A formal document that provides information and analysis about a business's operations, performance, or strategy.

Line of Reasoning

The logical sequence of thoughts or arguments that lead to a specific conclusion.

Information

Data that has been processed or organized in a meaningful way, useful for decision-making or understanding a topic.

General Purpose

The broad intent of a message—to inform, to persuade, or to collaborate with the audience.