All categories

3 years ago

True or False: Banks are required to make electronically deposited funds available on the same day of the deposit

Business

2 answers:

Law Incorporation [45]3 years ago

6 0

The given statement is false.

Further Explanation:

Remote deposit:

Remote deposit is a type of payment process where the payment is processed without sending the paper check to the bank or the financial institution. The check is scanned, and the scanned image is transferred electronically. The image has all the information regarding the check, such as amount, party, date. Businesses use the remote deposit for the payment of the wages and salaries that are very large in volume.

Comment whether the given statement is true or false:

The given statement is false.

The electronically deposited funds are not mandatorily available on the same day of the deposit. Each bank has its own payment and receipt gateway. So, it depends on the gateway, how much it takes to deposited money to be available. In exceptional condition, due to the technical error, the bank may take several days to show the balance in the account. Therefore, the banks are not required to make the electronically deposited funds available on the same day as the deposit.

Thus, the given statement is false.

Learn More:

Learn more about the interest rate brainly.com/question/8379060
Learn more about the perfect competition brainly.com/question/11042749
Learn more about the product leadership brainly.com/question/6610513

Answer Details:

Grade: Senior school

Chapter: Banking system

Subject: Business studies

Keywords: true, false, banks, required, make, electronically, deposited, funds, available, same, day, deposit, remote deposit.

PIT_PIT [208]3 years ago

4 0

Banks are required to make electronically deposited funds available on the same day of the deposit. False.

Banks are not required to make same day deposits available. The amount deposited and the bank all have different rules for for when they need to have funds available. Since each bank and type of account decide whether or not the funds need to be available and for how much, this varies from bank to bank.

You might be interested in

When you should send an email?

shepuryov [24]

When the subject addresses something meant to occur in the future, or impact the future

8 0

4 years ago

Read 2 more answers

How can a business deal with employees who have lack of focus and future goals ?

LenKa [72]

Answer:

motivation

Explanation:

Encourage them,make them see vision .

5 0

3 years ago

Melissa is a staff accountant for Quality Paper Company, which has strict corporate policies on appropriate use of corporate res

Murrr4er [49]

Answer: Integrity and ethical values

Explanation:

The integrity and the ethical values are the practices in an organization that helps in making various types of effective decisions on the basis of the given situation in an organization.

The integrity is one of the type of ethical and the moral principle that help in taking right decisions with honesty.

According to the given question, the COSO enterprise risk Management is one of the type of organizational framework that reflecting the integrity and the ethical value in the form of internal organizational environment for measuring the proper use of company's resources.

Therefore, The given answer is correct.

5 0

3 years ago

Which of the following statements is CORRECT? Assume that the project being considered has normal cash flows, with one outflow f

pashok25 [27]

Answer:

b. The lower the WACC used to calculate it, the lower the calculated NPV will be

Explanation:

When calculating NPV the cash inflows and cash outflows arising at the duration of the life are discounted at WACC. Generally, present value of outflow is same as actual as no discounting is done, as that occurs at the initial time of the project.

Cash inflows arising at year end are discounted.

When, WACC is lower The present value of inflows is lower in comparison to higher WACC.

Therefore, there is lower NPV with lower WACC.

Thus, Statement b. is correct.

b. The lower the WACC used to calculate it, the lower the calculated NPV will be

4 0

4 years ago

Business operations Essay

juin [17]

Answer:

The description of the given term "Business operations" is provided below.

Explanation:

Together with all measures essential to manage as well as generate money besides your firm, is considered as business operations.
Sometimes a component devoted to the industry would be included throughout the marketing strategies, enough so founding members comprehend or recognize the authoritarian leadership style, machinery, personnel, including procedures.

6 0

3 years ago