Asked by Jennifer Darce on Jun 03, 2024
Verified
Accept a postal money order with only one endorsement
A) best practice (good policy)
B) not a best practice (not a good policy)
Postal Money Order
A financial instrument intended for sending money through the mail, ensuring both security and proof of payment.
Endorsement
An act of public or formal support or approval of someone or something.
- Identify best practices in accepting checks to ensure their validity and protect against fraud.
- Know the security implications of accepting postal money orders and third-party checks.
Verified Answer
EV
Emily VineyardJun 05, 2024
Final Answer :
A
Explanation :
Accepting a postal money order with only one endorsement is considered a best practice because it indicates that the money order has not been circulated or potentially altered by multiple parties, reducing the risk of fraud.
Learning Objectives
- Identify best practices in accepting checks to ensure their validity and protect against fraud.
- Know the security implications of accepting postal money orders and third-party checks.