When the Payor and Payee Have Accounts at the Same

question 46

Multiple Choice

When the payor and payee have accounts at the same bank,the bank will issue a ________ credit to the payee's account,and,if the bank does not dishonor the check,the credit will become an actual payment.

• A)Possible
• B)Interim
• C)Potential
• D)Provisional
• E)Temporary

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Definitions:

Uninsurable Risk

An eventuality for which the frequency or magnitude of potential losses is unpredictable or unknowable. Insurance companies are not willing to sell insurance against such risks.

Consumer Tastes

Preferences or likes and dislikes of consumers that influence their purchasing behavior and are affected by cultural, social, personal, and psychological factors.

Business Firm

An organization engaged in commercial, industrial, or professional activities, aiming to earn profits by providing goods or services.

Usury Law

Legislation that sets maximum interest rates that can be charged on loans, to prevent excessive interest rates or usury.