Asked by Jaylin Johnson on Jul 14, 2024
Verified
A check on which one bank is both the drawer and the drawee is called a:
A) certified check.
B) cashier's check.
C) teller's check.
D) uncertified check.
Cashier's Check
A cashier's check is a check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier.
Drawer
The person or entity that issues or writes a check or draft, instructing their bank to pay the stated amount to the party named on the document.
Drawee
The party, usually a bank, that is directed to pay a certain amount of money from a person's account as stated in a check or draft.
- Acquire knowledge about the specifics and traits of several types of checks, encompassing stale, certified, cashier's, and teller's checks.
Verified Answer
KG
KRISTIAN GUMMINGERJul 15, 2024
Final Answer :
B
Explanation :
A check on which a bank is both the drawer and the drawee is a cashier's check.
Learning Objectives
- Acquire knowledge about the specifics and traits of several types of checks, encompassing stale, certified, cashier's, and teller's checks.