Which of the following is true of the Check 21 Act?
A) The processes it enabled are time-consuming and costly.
B) It is designed to enable banks to handle more checks electronically.
C) It completely discourages check truncation.
D) It requires banks to retain a legible copy of checks for fifteen years.
Correct Answer:
Verified
Q21: The time requirements for notice of postdated
Q24: If a drawee bank certifies a check,
Q34: A written stop-payment order:
A) is valid for
Q36: Eli draws a check for $1,500 on
Q36: According to the revised Article 4 of
Q38: A check drawn by a credit union
Q39: A bank that knows of a customer's
Q40: Check 21 contains a special refund procedure,called
Q41: What are the different electronic funds transfer
Q48: Which of the following statements is true
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents