Asked by Andrea Weitoschova on Jun 23, 2024
Verified
Which of the following contains both an acknowledgement by a bank that it has received money and a promise to repay money?
A) Commerce treaty
B) Articles of Organization
C) Certificate of Deposit
D) Escrow
Certificate of Deposit
A savings certificate entitling the bearer to receive interest, which has a fixed maturity date and specified fixed interest rate.
Acknowledgement
The act of recognizing or admitting the truth, validity, or legality of something.
- Acknowledge the attributes and forms of negotiable tools, like checks and promissory notes.
Verified Answer
SM
Shane MundyJun 25, 2024
Final Answer :
C
Explanation :
A certificate of deposit (CD)contains (1)an acknowledgement by a bank that is has received a deposit of money and (2)a promise by the bank to repay the sum of money.
Learning Objectives
- Acknowledge the attributes and forms of negotiable tools, like checks and promissory notes.