Which of the Following Is Implied When a Bank Certifies

question 4

Multiple Choice

Which of the following is implied when a bank certifies a check?

• A) The bank agrees to accept the check when it is presented for payment.
• B) The bank cashes the check only if the holder himself presents it for payment.
• C) The bank withholds payment on the check until the drawer authorizes payment.
• D) The bank holds the check as guarantee for repayment of a loan taken by a customer.

---

Definitions:

Direct Labor

The labor costs directly associated with the manufacture of products or delivery of services.

Standard Costs

The expected costs associated with producing a product or performing a service, used for budgeting and performance analysis.

Hours

A measure of time representing 60 minutes, often used to track labor or production time in business.

Cost of Goods Sold

The expenses directly associated with manufacturing the products that a company sells.