Daylight Overdrafts Occur When

question 60

Multiple Choice

Daylight overdrafts occur when:

• A)FIs in different time zones clear transactions
• B)FI debits exceed credits during the day
• C)FI credits exceed debits during the day
• D)the sum of all debits transmitted over the system exceeds the sum of all credits during the day

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Definitions:

Memory Function

The cognitive processes involving the encoding, storing, and retrieving of information by the brain.

Concrete-Operational

A stage of cognitive development in Jean Piaget’s theory, where children ages 7 to 12 develop logical thinking but still struggle with abstract concepts.

Long-Term Memory

The memory structure capable of relatively permanent storage of information.

Rote Learning

A memorization technique based on repetition, often without understanding the underlying content.