A system of shortening the trip a bill of exchange makes from the payee to the drawee bank and then to the drawer is called .
A)automated truncation
B)credit truncation
C)payment truncation
D)check truncation

Question

Quizplus · Accepted Answer

Check truncation is a system that shortens the physical movement of checks by converting them into electronic form for processing, thereby speeding up the clearing process.

A System of Shortening the Trip a Bill of Exchange