Which of the Following Is True of the Check 21

question 11

Multiple Choice

Which of the following is true of the Check 21 Act?

• A) The processes it enabled are time-consuming and costly.
• B) It is designed to enable banks to handle more checks electronically.
• C) It completely discourages check truncation.
• D) It requires banks to retain a legible copy of checks for fifteen years.

---

Definitions:

Default

The failure to perform a legal duty or fulfill an obligation, such as not making scheduled loan payments.

Employ Employees

The act of hiring individuals to perform services or tasks for compensation.

Partnership Business

An officially recognized form of enterprise undertaken by two or more participants, who equally manage the business and its profits.

Agent

A person authorized to act on behalf of another, often in business transactions.