Reversals can be submitted at any time. Is this statement true or false?

The statement is false because reversals can only be submitted within a specific timeframe after the original transaction. Typically, there's a limited window, often 24 to 72 hours, during which a transaction can be reversed. After this period, a reversal is no longer possible, and any corrections or adjustments would need to be processed as a refund or a new transaction, depending on the system and the nature of the error. This time limit is in place to ensure financial reconciliation and prevent fraud, making the "at any time" claim incorrect.