What is the bank called that receives a check from another bank in the check collection process?

Fantastic news! We've Found the answer you've been seeking!

Question:

What is the bank called that receives a check from another bank in the check collection process? Explain briefly

Related Book For answer-question

Accounting Information Systems basic concepts and current issues

ISBN: 978-0078025334

3rd edition

Authors: Robert Hurt

See More Books

Posted Date: Mar 10, 2024 11:01 AM

See More Questions

Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...
In each independent case situation below, construct a REA model and a database structure. a. Toms Trailers. Tom owns a small recreational trailer business in a suburban community located close to the...
1.Which of the following below is NOT an element of internal control? a. risk assesment b. monitoring c. information and communication d. behavior analysis ANSWER:D 2. Which of the following below is...
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost Cost per Car...
Illustrate the effect on the accounts and financial statements of the following transactions: a. Established a petty cash fund of $500. b. The amount of cash in the petty cash fund is now $45....
Here are incomplete financial statements for Donavan, Inc. Income Statement Revenues........................$85,000 Cost of goods sold...................(c) Salaries and wages expense....10,000 Net...
Design Data sold a piece of machinery to HHB Drafting Company. However, after HHB had taken possession of the machine, it discovered damage and revoked the contract. The court found that the...
Washington, Inc., makes three models of motorized carts for vacation resorts, X-10, X-20, and X-40. Washington manufactures the carts in two assembly departments: Department A and Department B. All...
A and has two danghters and one son. She has puast been diagnosed with a "ecucrence sf the lobalar breast cances treated with a humpectomy and adiation 4 years ago. Her father (Aaron) s still living...
(a) Design the recursive linear Search method that, when given a String [] S and a String to search for k, returns the index of k in S, and -1 if k is not in the array. Since this method is...
Using a factory overhead allocation method such as the single plantwide factory overhead rate can cause product cost distortions. However, this method is less complicated and inexpensive to maintain....
Both financial and managerial accounting are important to a company's success. What do you think contributes more to this success and why?
According to the American Economic Association the annual salary of an exonomics major mind career is?
4. (a) The UAE accepts paperless trade. What impacts will this have on exporters to the UAE?
10.Is the firm's information system continually being improved in content- and user- friendliness?
QUESTION 11 Would you expect a battery using a Zn/Zn+ II Fe/Fe2t/Pt to last longer than the cell in part a? TTTT Paragraph v Arial C3 (12pt) EE- T
An example of prescriptive analytics is when an action is recommended based on previously observed actions. For example, an analysis might help determine procedures to follow when new accounts are...
Multiple choice. Please select the best answer for each of the following questions. 1. An ERP system could be associated with ___ audits. a. Systems b. Financial c. Investigative d. All of the above...
Multiple choice questions. Consider the following REA model in responding to the questions below; it represents the system by which members of the accounting club at Big State University are...
Indicate whether each of the following statements is (i) Always true, (ii) Sometimes true, or (iii) Never true. For those that are (ii) Sometimes true, explain when the statement is true. a. The...
For the particular case of hard spheres, the pressure in the virial equation of state is determined by evaluating the pair correlation function at contact. Write the pair correlation function as...
Use a virial expansion approach to determine the first few nontrivial order contributions to the pair correlation function $g(r)$ in $d$ dimensions. Show that the pair correlation function is of...
(a) For a dilute gas, the pair correlation function $g(r)$ may be approximated as \[g(r) \simeq \exp \{-u(r) / k T\}\] Show that, under this approximation, the virial equation of state (10.7.11)...

What is the bank called that receives a check from another bank in the check collection process?

Question:

Expert Answer:

In the check collection process the bank that receives a check from another bank is calle... View the full answer

Accounting Information Systems basic concepts and current issues

Students also viewed these accounting questions