Which of the Following Is Characteristic of Both Cashier's Checks

question 57

Multiple Choice

Which of the following is characteristic of both cashier's checks and traveler's checks?

• A) requirement of a countersignature when used
• B) usually available only in certain fixed denominations
• C) must be certified before they can be negotiated
• D) They are frequently issued by companies other than banks.
• E) The same party serves as both the drawee and the drawer.

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Definitions:

Accrued Expenses

Expenses that have been incurred but not yet paid or recorded in the company's accounts.

Trade Magazine

A publication focused on a specific industry or profession, often containing news, trends, and articles of interest to those in the field.

Subscription Revenue

Income generated from customers who pay recurrently for access to a product or service over a subscription period.

Insurance Expense

The cost incurred by a business to purchase insurance, which provides financial protection against losses.