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5 October, 14:27

Match the term with the correct definition.

a. Cashier's check

b. Check

c. Certified check

d. Traveler's check

1. a draft drawn by a drawer ordering the drawee bank or financial institution to pay a certain amount of money to the holder on demand

2. a draft drawn by a bank on itself

3. a draft that is payable on demand, drawn on or payable through a bank, and specially designated

4. a draft that had been accepted by the bank on which it is drawn, promising to pay the check when it is presented

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Answers (1)
  1. 5 October, 14:33
    0
    Matched as below

    Explanation:

    a. Cashier's check: A draft drawn by a bank on itself

    b. Check: A draft drawn by a drawer ordering the drawee bank or financial institution to pay a certain amount of money to the holder on demand

    c. Certified check: A draft that is payable on demand, drawn on or payable through a bank, and specially designated

    d. Traveler's check: A draft that had been accepted by the bank on which it is drawn, promising to pay the check when it is presented
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