A Check Is Always A[n] ________ Instrument and Can Never

question 77

Multiple Choice

A check is always a[n] ________ instrument and can never be a[n] ________ instrument.

• A) Time; demand
• B) Demand; order
• C) Time; order
• D) Order; bearer
• E) Demand; time

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Definitions:

Interest Rates

They are the charges lenders impose on borrowers for the use of financial assets, restated here to highlight their critical role in finance and borrowing.

Simple Interest

Interest is calculated merely on the principal or on what part of the principal is still owed.

T-Bill

Short for Treasury Bill, a short-term government security issued at a discount from the face value and maturing at par.

Interest Rates

The percentage of a sum of money charged for its use or paid to investors over a period.