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frosja888 [35]
3 years ago
15

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

<u> </u><u>The given statement is false. </u>

<u></u>

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:

  1. Learn more about the interest rate brainly.com/question/8379060
  2. Learn more about the perfect competition brainly.com/question/11042749
  3. 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.

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Walden Industries is considering investing in productionminusmanagement software that costs $ 630 comma 000​, has $ 60 comma 000
nadya68 [22]

Answer:

345,000

Explanation:

accounting rate of return:

\frac{net \:profit}{average \: investment}

The average investment will be the average between the ending and beginning book value of the investment:

In this case, the acquisition of the software and his salvage value at the end of the useful life.

( 630,000 + 60,000 ) / 2 = 345,000

4 0
3 years ago
Cullumber Company provides the following information about its defined benefit pension plan for the year 2017. Service cost $ 90
Llana [10]

Answer:

$102,080

Explanation:

Given that,

Service cost = $90,500

Interest rate = 9 %

Expected return on plan assets = $62,800

Prior service cost amortization = $10,300

Projected benefit obligation at January 1, 2017 = $712,900

Pension expense for the year 2017:

= Service cost + Interest cost - Expected return on plan assets + Prior service cost amortization

= $90,500 + ($712,900 × 9%) - $62,800 +  $10,300

= $90,500 + $64,080 - $62,800 +  $10,300

= $102,080

8 0
3 years ago
Anna is willing to spend $500 for the bike she wants. if she finds a bike store where the price of the bike she wants is only $4
muminat
The answer is $100. The consumer surplus is $100 because that is the difference between what Anna has set as her ceiling for the purchase of the bicycle, $500, and then subtracted by the amount that she actually does pay, $400, that difference is what is referred to as consumer surplus. What the consumer is mentally committed to paying minus what the consumer actually pays.
8 0
3 years ago
Rizzo Manufacturing produces two types of cameras: 35mm and digital. The cameras are produced using one continuous process. Four
tiny-mole [99]

Answer:

Total overhead assigned to each the 35mm camera $ 66,000

An Activity Rate for receiving   $8 per receiving order

Receiving costs for 35mm camera  $1600

An Activity Rate for packing $ 10 per packing order

Explanation:

Product Machine Hours Setups Receiving Orders Packing Orders

35mm         10,000             100           200                  400

Digital            10,000          250          800                  2000

Cost            $60,000        $40,000    $8,000           $24,000

Total Overhead Costs= $ 60,000 + $ 40,000 + $ 8000+ $ 24,000= $132,000

Total overhead assigned to each the 35mm camera=( Total Costs/Total Machine Hours) * 35mm camera machine hours

Total overhead assigned to each the 35mm camera= ($ 132,000/ 20,000)10,000= $ 66,000

An Activity Rate for receiving based on receiving orders= 8000/1000=  $8 per receiving order

Receiving costs for 35mm camera= 8 * 200= $1600

An Activity Rate for packing based on packing orders = 24000/ 2400= $ 10 per packing order

5 0
3 years ago
PLEASE HELP FAST!!!
maria [59]
It’s C because it’s balanced
7 0
3 years ago
Read 2 more answers
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