Fact Pattern 27-1B

question 79

Multiple Choice

Fact Pattern 27-1B
Tom draws a check, on his account in State Bank in New York, payable to Digital Computers, 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 27-1B. When Digital's bank received the check, it was required to pass it on

• A) before midnight of the next banking day.
• B) before midnight of the next day, whether or not it was a "banking" day.
• C) before noon of the next banking day.
• D) within five business days.

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Definitions:

Characteristics

Traits or qualities that define an entity, making it identifiable or distinguishing it from others.

Self-Esteem

An individual's subjective evaluation of their own worth, encompassing beliefs and emotions such as pride and shame.

Reflected Appraisal

A concept in psychology that refers to a person's perception of how others see and evaluate them.

Narcissistic

A personality disorder characterized by an inflated sense of self-importance, need for admiration, and lack of empathy for others.