Which of the Following Statements About Companies That Provide Proactive

question 53

Multiple Choice

Which of the following statements about companies that provide proactive protection of your information assets is not correct?

• A)These companies allow their customers to lock their credit files.
• B)These companies ensure that new lines of credit cannot be opened unless their clients unlock their credit files.
• C)These companies operate independently of the three major credit reporting agencies.
• D)Signing up with these companies means that merchants and banks must have verbal or written permission from their customers before opening new credit in their names.
• E)These companies will proactively monitor their clients' credit files at the three credit reporting agencies.

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the payer's ledger but have not yet been cashed or processed by the recipient's bank.

Checks Presented

Refers to the cheques that have been submitted for payment by the payee to the bank but have not yet been cleared.

Checks Written

The act of creating checks as payments for expenses, purchases, or obligations by a business or individual.

Bank Reconciliation

The process of matching and comparing figures from banking statements with those in a company’s financial records to ensure accuracy.