Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

American National Bank receives a check at 4 p.m. on Thursday afternoon. American considers the check to have been received on Friday morning, so they

American National Bank receives a check at 4 p.m. on Thursday afternoon. American considers the check to have been received on Friday morning, so they do not need to pass it to the next bank in the collection chain until Monday. This is called: a. deferred posting. b. manipulating the timeline. c. delayed passage. d. Federal Reserve flexibility.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

New Issues In Financial Institutions Management

Authors: F Fiordelisi, P Molyneux, D Previati

2010th Edition

0230278108, 978-0230278103

More Books

Students also viewed these Finance questions