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An Electronic Image of an Item Together with Electronic Information

Question 168

Multiple Choice

An electronic image of an item together with electronic information describing that item in an approved format will be considered a valid instrument. Common forms of instruments are the following EXCEPT:


A) Checks: Drafts drawn on a bank and payable on demand
B) Pay checks
C) Cash items: Checks or other items payable on demand and collectible at par and accepted at the Reserve Bank
D) Noncash items: Items that a Reserve Bank classifies as requiring special handling

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