Which of the Following Is True of the "Deferred Posting

question 12

Multiple Choice

Which of the following is true of the "deferred posting rule"?

• A) It allows banks to fix an afternoon hour of 2:00 or later as a cutoff hour for the purpose of processing checks and deposits.
• B) According to this rule, when a customer deposits a check for collection, the depository bank does not have to pay the customer until the check clears.
• C) It mandates banks to mail their checking account customers monthly statements of their accounts and any canceled checks should accompany this statement.
• D) According to this rule, a customer is liable for payment to his bank if he fails to report any unauthorized transactions within 30 days from the receipt of the account statement.

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Definitions:

Sentencing Guidelines

Rules or standards established by law that dictate the range of punishments or sentences that may be imposed for various offenses.

Growing Interest

An increasing amount of attention or concern towards a specific subject or activity.

Retribution

A principle of justice where the punishment of wrongdoers is proportionate to the harm they have caused.

Incapacitation

A criminal justice philosophy aiming to prevent crime by detaining or restricting the movements of offenders to protect society.