​A Check Paid Directly from a Checking Account Through the Internet

question 36

Multiple Choice

​A check paid directly from a checking account through the Internet is known as a(n) :

• A) ​limited check
• B) ​electronic check
• C) ​certified check
• D) cashier's check

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Definitions:

Charitable Contribution

Financial or material donations given to a charitable organization, often eligible for tax deductions.

C Corporation

A type of business entity that is taxed separately from its owners, and can have an unlimited number of shareholders.

Subchapter S Status

A tax designation for small corporations that meet specific IRS requirements, allowing income to be taxed at the shareholder level rather than at the corporate level.

Subchapter S Corporation

A type of corporation created through an IRS tax election to pass corporate income, losses, deductions, and credits through to shareholders for federal tax purposes.