36. The numbers on the bottom area of a check which shows the bank identificatio

Question

36. The numbers on the bottom area of a check which shows the bank identification number is also known as a
transit routing number
check imaging number
batch settlement number
scanning image number


37. _______________ is NOT an electronic means to transfer payments.
wire transfers
Time drafts
EDTs
EDTs


38.
The main difference between a debit card and a credit card is that the debit ca


Can only be used by individual merchants
transactions are debited to the payor's account quickly
transactions cannot be handled electronically
can only be used by business


39. (An)_________ lockbox system is set up to use standardized invoice materials in large volumes.
retail
wholesale
network
ACH


40. Collection float includes the following:
Dollar-day
Check processing float
Availability float
‘b’ and ‘c’
all of the above (i.e. ‘a’ ‘b’ and ‘c’)

Explanation / Answer

36 check imaging number 37 Time drafts 38 transactions are debited to the payor's account quickly 39 wholesale 40 all of the above

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