Which of the Following Is True of the "Deferred Posting

question 12

Multiple Choice

Which of the following is true of the "deferred posting rule"?

• A) It allows banks to fix an afternoon hour of 2:00 or later as a cutoff hour for the purpose of processing checks and deposits.
• B) According to this rule, when a customer deposits a check for collection, the depository bank does not have to pay the customer until the check clears.
• C) It mandates banks to mail their checking account customers monthly statements of their accounts and any canceled checks should accompany this statement.
• D) According to this rule, a customer is liable for payment to his bank if he fails to report any unauthorized transactions within 30 days from the receipt of the account statement.

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Definitions:

Cultural Structures

The organization and norms that shape the behavior and beliefs within a society, influencing its cultural practices and institutions.

Value Orientation

The principle beliefs and attitudes that guide an individual's or culture's judgments, actions, and organization of life.

Self-Concept

An individual's perception of themselves, including their beliefs, feelings, and thoughts about their own abilities, appearance, and values.