Asked by Margaret DiFlora on Jul 27, 2024
Verified
A check paid directly from a checking account through the Internet is known as a(n) :
A) limited check
B) electronic check
C) certified check
D) cashier's check
Electronic Check
An electronic check, or e-check, is a digital version of a traditional paper check, used to make payments online by transferring money from the payer's checking account.
Internet
A vast global network that connects computers around the world, enabling users to share information and communicate.
- Comprehend the principles and roles of digital financial mechanisms, such as cryptocurrency and electronic checks.
Verified Answer
AN
Alora Nicholson
Aug 02, 2024
Final Answer :
B
Explanation :
Electronic checks, or e-checks, are a form of payment where funds are electronically withdrawn from the payer's checking account, transferred over the ACH network, and deposited into the payee's checking account. This process utilizes the Internet for the transaction, making option B the correct answer.
Learning Objectives
- Comprehend the principles and roles of digital financial mechanisms, such as cryptocurrency and electronic checks.
Related questions
___________ Is a Digital or Virtual Currency That Uses Cryptography ...
Hot Wallets Are Much Safer Than Cold Wallets
Erin Uses E-Money Consisting of Funds Stored on Microchips in ...
Which of the Following Is False Regarding Checks ...
The Process of Performing Banking Transactions with a Smartphone or ...