Choose Among the Following Services Provided by Modern FIs to Answer

question 100

Short Answer

Choose among the following services provided by modern FIs to answer questions 16-90 to 16-103.
-16-100 A centralized collection service where the payments are received on-line for corporate customers.
A)Account reconciliation.
B)Assisting small business entries into e-commerce.
C)Check deposit services.
D)Controlled disbursement accounts.
E)Electronic billing.
F)Electronic data interchange.
G)Electronic funds transfer.
H)Electronic initiation of letters of credit.
I)Electronic lockbox.
J)Facilitating business-to-business e-commerce.
K)Funds concentration.
L)Treasury management software.
M)Verifying identities.
N)Wholesale lockbox.

• A)Account reconciliation.
• B)Assisting small business entries into e-commerce.
• C)Check deposit services.
• D)Controlled disbursement accounts.
• E)Electronic billing.
• F)Electronic data interchange.
• G)Electronic funds transfer.
• H)Electronic initiation of letters of credit.
• I)Electronic lockbox.
• J)Facilitating business-to-business e-commerce.
• K)Funds concentration.
• L)Treasury management software.
• M)Verifying identities.
• N)Wholesale lockbox.

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Definitions:

Regressive

Describes a tax structure where the tax rate decreases as the taxable amount increases, placing a higher relative burden on lower income earners.

Effective Average

A calculated mean intended to provide a more accurate or meaningful representation of a set of values, taking into account various factors.

Federal Taxes

Taxes collected by the national government, including income taxes and Social Security taxes.

Perfectly Elastic

Describes a situation where the quantity demanded or supplied responds infinitely or massively at a particular price level, often represented by a horizontal line on a graph.