Tess deposited the $75 000 she received from the sale of her business into her daily interest savings account.In this instance,which of the following reflects the legal nature of the relationship created between Tess and her banking institution?
A) Tess is the debtor and the bank is the creditor.
B) The bank must report the transaction to FINTRAC.
C) The bank must verify the viable commercial source of the funds.
D) Tess is the creditor and her bank is the debtor.
Correct Answer:
Verified
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