Examlex

Solved

On the Internet,price Can Easily Be Adjusted to Meet Changes

question 35

Multiple Choice

On the Internet,price can easily be adjusted to meet changes in the marketplace.This is called ________.


Definitions:

Depositary Bank

A financial institution that receives a deposit, especially one authorized to hold funds or securities for others.

Payor Bank

The bank responsible for disbursing the funds indicated on a check.

Drawer

In the context of banking and checks, the individual or entity that writes and signs a check, directing a bank to pay the stated amount.

Drawee

The entity, often a bank, on which a check or draft is drawn and is responsible for paying the amount specified.

Related Questions