This Compares the ID Number in Transaction Data with Similar

question 29

Multiple Choice

This compares the ID number in transaction data with similar data in the master file to verify that the account exists.

• A)Reasonableness test
• B)Sign check
• C)Size check
• D)Validity check

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Definitions:

Second Restatement

A compendium of the common law of the United States, revising principles in various areas of law like contracts and torts.

Third Restatement

Refers to the updated summaries of common law in the United States, specifically referring to restatements on various legal subjects by the American Law Institute.

Actual Authority

The explicit power granted by a principal to an agent to act on their behalf.

Gratuitous Agent

An individual who acts on behalf of another without receiving any compensation or benefit, motivated by voluntary intent or relationship.