________ is a process which begins with the buyer giving the seller a check,and the seller using the information on that check to name itself as the payee and forwarding it for collection through an automated clearing house.
A)Source documentation
B)Check conversion
C)Account aggregation
D)Check truncation

Question

Quizplus · Accepted Answer

"Check conversion" is utilized by a number of large retailers.The process begins with the buyer giving the seller a paper check.The seller uses special equipment to gather information from the paper check;this information includes the buyer's bank account number,the bank routing number,and the serial number of the check.The retailer then names itself as the payee,codes in the amount of the purchase,and forwards it for collection through an automated clearing house (ACH)transaction instead of the collection route for paper checks.

________ Is a Process Which Begins with the Buyer Giving