Most People Still Prefer to Pay Their Bills by Check

question 46

Short Answer

Most people still prefer to pay their bills by check and through the mail,partly because fraud on the Internet has increased in recent years,especially through a practice called ____________________.

Understand the principles and legal issues involved in the final payment process in banking transactions.

Comprehend the warranties and liabilities of collecting banks in the transfer of commercial paper.

Learn the applicability of various laws and regulations, such as Article 4A and the Check Clearing for the 21st Century Act, to specific banking transactions.

Acknowledge the responsibilities of banks under different circumstances, including drawer’s incompetence and ATM failures.

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Definitions:

Skewed

A distribution that is not symmetrical, with a majority of data points lying on one side of the mean.

Bimodal

A distribution with two different modes, or peaks, in a set of data, indicating two dominant frequencies or values.

Normal Distribution

Normal distribution, often called a bell curve, describes a symmetrical distribution of data where most values cluster around a central mean.