Which of the Following Statements Regarding Check 21 Is False

question 69

Multiple Choice

Which of the following statements regarding Check 21 is false?

• A)It allows banks to exchange checks electronically.
• B)Before this system, paper checks were flown around the country from bank-to-bank.
• C)It does not require banks to be able to accept substitute checks.
• D)It significantly reduced float.

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Definitions:

Sell Shares

This refers to the act of transferring ownership of stock or equity interests in a company from one party to another, typically in exchange for monetary compensation.

Circumstances

The conditions or facts affecting a situation, event, or action.

Bond

A bond is a fixed income instrument that represents a loan made by an investor to a borrower, typically corporate or governmental, where the borrower agrees to pay interest and repay the principal at maturity.

Share

An individual portion of ownership in a company or financial asset.