If a Check Is Not Presented to a Bank Within

question 81

Multiple Choice

If a check is not presented to a bank within ____________ of its date, the check is considered stale check.

• A) 30 Days.
• B) 90 Days.
• C) 6 Months.
• D) 9 Months.
• E) None of these because under the UCC, a check cannot be considered a stale check.

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Definitions:

Type I Error

The mistaken dismissal of an accurate null hypothesis, commonly known as a "false positive" result.

Type II Error

In statistical hypothesis testing, the error that occurs when one fails to reject a false null hypothesis (a false negative).

Significant

Indicates that the results in statistical analysis are likely not due to chance, and there is a certain degree of reliability in the findings.

Power

The probability that a statistical test will correctly reject a false null hypothesis, a measure of a test's capability to detect an effect when there is one.