Which of the Following Is Not a True Statement About

question 74

Multiple Choice

Which of the following is not a true statement about automated clearinghouses (ACHs) ?

• A) Automated clearinghouses are responsible for the check clearing process between commercial banks and the Federal Reserve Banks.
• B) Commercial transactions using automated clearinghouses have been growing at close to 17% per year since 1989.
• C) Debits drawn on automated clearinghouses cost less than half that of checks processed through financial institutions.
• D) The ability to reduce transactions costs and create convenience is driving the growth of automated clearinghouses.

---

Definitions:

Freshman

A student in the first year of high school, college, or university, often experiencing a significant transition in their educational journey.

Cornell University

A prestigious private and statutory Ivy League research university located in Ithaca, New York, known for its diverse academic programs.

Psychodynamic Theories

A group of theories in psychology that emphasize the influence of the unconscious mind on behavior.

Scientific Failings

Instances where scientific research or experiments do not achieve their intended outcomes, often leading to a reevaluation of hypotheses or methodologies.