Asked by Terrance Phillandra on May 01, 2024
Verified
Payee's signature on the back of a check
A) deposit record
B) deposit slip
C) electronic funds transfer system
D) endorsement
E) endorser
F) third-party check
G) limited check
H) maker
I) MICR numbers
J) money order
Payee's Signature
The signature of the individual or entity entitled to receive payment on a financial document, such as a check.
Back Of A Check
The rear face of a check where endorsements are made, including the signature of the recipient, necessary for the check to be cashed or deposited.
Endorsement
The payee’s signature on the back of a check. It is a transfer of title on the check to the bank in exchange for the amount of money on the face of the check.
- Acquire knowledge about the various types of check endorsements and understand their effects on the processing of checks.
Verified Answer
KG
katie gleasmanMay 07, 2024
Final Answer :
D
Explanation :
The term "endorsement" refers to the act of the payee signing the back of a check, which authorizes the transfer of money from the drawer to the payee or another party.
Learning Objectives
- Acquire knowledge about the various types of check endorsements and understand their effects on the processing of checks.