Asked by Aubrey Hadley on May 17, 2024
Verified
The businesses community considers cashier checks to be the near equivalent of cash.
Cashier Checks
A check issued by a bank, drawn on its own funds rather than that of a personal account. It is typically considered a secure form of payment.
Businesses Community
A group of companies and organizations operating within the same industry or geographic area, often sharing resources, information, and economic interests.
Cash
Money in the form of coins or banknotes, especially that used to pay for goods or services.
- Absorb the distinct aspects and operational roles of various checks and negotiable instruments in accordance with the UCC.
Verified Answer
AY
Andreas Yoan WisnuMay 24, 2024
Final Answer :
True
Explanation :
Cashier's checks are considered highly reliable because they are issued by banks and guaranteed by the bank's funds, making them nearly as secure as cash for transactions.
Learning Objectives
- Absorb the distinct aspects and operational roles of various checks and negotiable instruments in accordance with the UCC.