Tom Draws a Check, on His Account in State Bank

question 70

Multiple Choice

Tom draws a check, on his account in State Bank in New York, payable to Digital Media, Inc., in San Francisco. Digital deposits the check in its ac¬count at First National Bank. First National deposits the check in the Federal Reserve Bank of San Francisco, which transfers it to the Federal Reserve Bank of New York. That Federal Reserve Bank sends the check to State Bank.


-Refer to Fact Pattern 17-2.Tom's bank is

• A)the cashing bank.
• B)the depositary bank.
• C)the intermediary bank.
• D)the payor bank.

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Definitions:

Ethical Questions

Queries that relate to moral principles or the propriety of particular behaviors within a business context.

Ethical Decision-Making Framework

A structured approach to making decisions that consider moral principles and values alongside business objectives.

Ethical Decision

A choice made based on moral principles and values, typically considering what is right, fair, and good for all stakeholders.

Zero Waste to Landfill

A sustainability goal aimed at ensuring all waste materials are reused, recycled, or composted, with none being disposed of in landfills.