Which of the Following Describes the Place Over Which the Bank-To-Bank

question 20

Multiple Choice

Which of the following describes the place over which the bank-to-bank transfers are conducted within the United States?

• A) Lockbox system
• B) Concentration banking
• C) Wire transfers
• D) Fedwire

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Definitions:

Contractual Obligation

An agreement that legally binds two or more parties to specific actions or non-actions.

Commission Of A Tort

The act of committing a wrong that is recognized by law as grounds for a lawsuit, typically involving injury to individuals or entities.

Partners' Liability

The legal responsibility shared by partners in a partnership for the debts and obligations of the business.

Convict On Parole

An individual who has been released from prison before completing their sentence under certain conditions for good behavior.