Banks in the Collection Process That Are Not the Depository

question 30

Multiple Choice

Banks in the collection process that are not the depository or payer bank are called ________ banks.

• A) intermediary
• B) terminal
• C) collecting
• D) provisional

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Definitions:

Constitutional Basis

The fundamental principles or established precedents according to which a state or other organization is governed, as outlined in its constitution.

Judicial Power

The authority vested in courts and judges to interpret and apply the law, adjudicate legal disputes, and in some cases, enforce or nullify laws based on their constitutionality.

Public Opinion

The collective attitudes, beliefs, and views of the adult population on various issues, often measured through surveys or polls.

Judiciary Check

Mechanisms under which judicial branches review the actions of executive and legislative branches to ensure they are constitutional.