New Year Sale Limited Time 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: simple70

AFP Certified Treasury Professional CTP Question # 311 Topic 8 Discussion

AFP Certified Treasury Professional CTP Question # 311 Topic 8 Discussion

CTP Exam Topic 8 Question 311 Discussion:
Question #: 311
Topic #: 8

ABC Ltd. uses a third party lockbox provider to collect and clear its paper receivables. A customer disputes the price charged for a binding machine and issues a check to ABC Ltd. for 50% of the balance due, noting “paid in full” on the face of the check. The third party provider does not bring the check to ABC's attention prior to depositing it. Which regulation allows ABC to attempt to collect the remaining balance?


A.

UCC Article 2 - Clearing of Checks


B.

Federal Reserve Regulation CC


C.

UCC Article 3 - Negotiable Instruments


D.

UCC Article 4 - Bank Deposits and Collections


Get Premium CTP Questions

Contribute your Thoughts:


Chosen Answer:
This is a voting comment (?). It is better to Upvote an existing comment if you don't have anything to add.