The Automated Clearing Settlement System (ACSS)________

question 100

Multiple Choice

The Automated Clearing Settlement System (ACSS) ________.

• A) was introduced on February 4, 1999
• B) is an electronic net settlement network designed to provide settlement to wholesale transactions
• C) aggregates interbank payments and informs the Bank of Canada of the net amounts to be transferred from and to each participant's settlement account with the Bank of Canada
• D) Only A and B of the above.

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Definitions:

Operation of Law

Legal changes or transfers that happen automatically due to existing laws rather than through an agreement or court order.

Importation

The act of bringing goods or services into a country from abroad for sale.

Partnership Dissolution

The process of legally terminating a business partnership, involving the winding up of business activities, settling debts, and distributing remaining assets to partners.

Partnership Assets

Properties, resources, or financial investments owned jointly by partners in a business partnership.