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 15 years.
Correct Answer:
Verified
Q22: Salim carelessly makes a check for $100
Q23: Check 21 contains a special refund procedure,
Q24: If a drawee bank certifies a check,
Q25: Shankar purchased a new car from Friendly
Q26: A person may stop payment on a
Q28: A check drawn by a credit union
Q29: A bank that knows of a customer's
Q30: Under revised Article 3 of the Uniform
Q31: If a bank pays a check after
Q32: A written stop-payment order is:
A) valid for
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