Describe and summarize what happens during the collection process once a check is deposited in a customer's account. How does it get back to the drawee?
When a person deposits a check in his bank (the depositary bank), the bank credits his account by the amount of the check with a provisional credit. If the depositary bank is not the payor (drawee) bank, the check passes either directly through a clearinghouse or through one or more intermediary banks until it reaches the payor/drawee bank for collection. When the check is paid, all provisional settlements become final and the transaction is completed.
You might also like to view...
_____, as it relates to nonverbal communication, is the physical distance maintained with others
Fill in the blank(s) with correct word
Which is an example of a statute?
A. President Donald Trump issues an executive order banning the use of federal funds for abortion. B. A North Dakota judge issues an injunction prohibiting a man from contacting his ex-wife. C. The Ohio legislature passes a law requiring all bicycle riders to wear a helmet. D. The Federal Communications Commission instructs all radio stations to refrain from broadcasting "indecent" programming during daylight hours.
Some Windows PCs include an embedded security subsystem that stores passwords and encryption keys on a dedicated security chip on the ____________________.
Fill in the blank(s) with the appropriate word(s).
With the popularity of outsourcing and global logistics, the manufacturing environment has seen several changes. Among the following choices, select the changes that align with this current manufacturing environment. (1). Shorter product life cycles (2). MRPII is being viewed as the system of the future (3). An increase in fabrication value added (4). Popularity of customer driven supply chains
a. (1) c. (1), (3) and (4) b. (1) and (4) d. All of the above