Asked by Trang Nguyen on Jun 06, 2024
Verified
In which of the following types of checks does the bank draw on itself to pay a specific person?
A) Certified.
B) Agreed.
C) Acknowledged.
D) Cashier's.
E) Promise.
Cashier's Check
A check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier.
- Acquire knowledge about the dynamics and mechanisms of assorted checks used in the banking sector.
Verified Answer
AM
Aaron MhondaJun 12, 2024
Final Answer :
D
Explanation :
A cashier's check is a check where the bank guarantees the payment because the funds are drawn against the bank itself, not a personal or business account.
Learning Objectives
- Acquire knowledge about the dynamics and mechanisms of assorted checks used in the banking sector.