Banks That Do Not Exchange Checks Electronically Are Required to Accept

question 16

True/False

Banks that do not exchange checks electronically are required to accept substitute checks in the same way that they accept the original checks.

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Definitions:

Formalizing Stage

A phase in group development where the structure of the group is solidified and rules and roles are established.

Group Development

A process through which a group evolves over time, typically moving through stages such as forming, storming, norming, performing, and adjourning.

Culture Stories

Stories that illustrate the values of the people who make an organization work.

Group Effectiveness

The measure of how well a group is able to meet its objectives and achieve desired outcomes through its collective efforts.