Asked by Kerri Lynn Eklund on Jul 21, 2024
Verified
All of the following are parties to a check except the
A) bank.
B) Federal Reserve.
C) maker.
D) payee.
Federal Reserve
The central banking system of the United States, responsible for monetary policy, banking supervision, and financial services.
Parties to a Check
The individuals or entities involved in a check transaction, including the drawer, payee, and drawee.
Maker
The party in a promissory note who is making the promise to pay.
- Identify the parties involved in transactions using checks.
Verified Answer
JM
Jessica McIntoshJul 26, 2024
Final Answer :
B
Explanation :
The Federal Reserve is not a direct party to a check transaction, but it does have a role in check processing and clearing. The bank, maker, and payee are all parties to a check transaction.
Learning Objectives
- Identify the parties involved in transactions using checks.