Which of the Following Is True of a Collecting Bank

question 46

Multiple Choice

Which of the following is true of a collecting bank?

• A)A collecting bank is an agent of the owner of an item until settlement becomes final.
• B)The relationship between a collecting bank and the owner of an item, once settled, becomes a debtor-creditor relationship.
• C)A collecting bank may be a sub-agent of the owner until settlement becomes final.
• D)All of the above.
• E)None of the above.

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Definitions:

Cultural Autonomy

The right or condition of a culture or community to organize its own life and activities independently and maintain its unique traditions and identity.

West Indies

A region of the North Atlantic Ocean in the Caribbean that consists of the island countries and other territories.

Jenkins' Ear

A conflict between Britain and Spain in the 18th century, reportedly sparked by the mutilation of British sailor Robert Jenkins, symbolizing broader colonial and trade tensions.

Georgia

A state located in the southeastern region of the United States, known for its diverse landscapes from beaches to mountains, and its pivotal role in both the Civil War and the Civil Rights Movement.