A Check Made Payable to "Cash" Is Most Commonly Used

question 37

Multiple Choice

A check made payable to "Cash" is most commonly used in the physician's office to

• A) pay employees.
• B) provide the physician with funds for travel expenses.
• C) pay for medical supplies.
• D) replenish petty cash.

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Definitions:

Drawer-payor Bank

Refers to the bank upon which a check is drawn and is responsible for paying the check when it is presented.

Banking Day

A business day during which financial institutions are open for conducting banking transactions.

Bank Statement

A bank statement is a summary of financial transactions that occurred over a certain period of time in a bank account, provided regularly by the bank to the account holder.

Transactions

The act of conducting business or commercial activities, often involving the exchange of goods, services, or funds.