What Characteristics Are Necessary for a Draft to Be a Check

question 32

Multiple Choice

What characteristics are necessary for a draft to be a check?

• A) It contains an indorsement in blank.
• B) It is payable on demand,and the drawee is a bank.
• C) It is payable at a specific time and the drawee is a bank.
• D) There are no separate requirements; the requirements for a draft and a check are the same.

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Definitions:

Machinists

Skilled workers who operate machine tools to fabricate parts and instruments.

Labor Supply

The total hours that workers wish to work at a given wage rate, in a given time period.

Payroll Tax

Taxes levied on employers or employees, and are based on the salary or wages of employees. These taxes fund social security and healthcare programs.

Elastic

describes a condition in which the quantity demanded or supplied of a good or service is highly responsive to changes in its price.