The Presque Isle Center Has Branch Operations in Three States

question 50

Multiple Choice

The Presque Isle Center has branch operations in three states.Each branch deals with a local bank.However,all excess funds in these branch bank accounts are transferred on a daily basis to the firm's primary bank located near the firm's home office.This routine of transferring cash to the primary bank on a regular basis is referred to as:

• A)cash concentration.
• B)strategic cash disbursement.
• C)transfer flotation.
• D)payables management.
• E)float management.

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Definitions:

Substantive Unconscionability

Unconscionability that derives from contract terms that are so one-sided, unjust, or overly harsh that the contract should not be enforced.

Unconscionable

Describes terms or agreements that are so unfair to one party that no reasonable or informed person would agree to them.

Life Insurance

A contract between an insurer and a policyholder that pays a designated beneficiary a sum of money upon the death of the insured person.

Necessary

Something essential or required in a particular situation, often used to describe conditions or actions needed to achieve a specific result.