Which Is the Correct Term for a Promise Made by a Bank

question 26

Multiple Choice

Which is the correct term for a promise made by a bank to pay a payee a certain amount of money at a future time?

• A) A note
• B) A draft
• C) A novation
• D) A check
• E) A certificate of deposit

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Definitions:

Administrative Agencies

Governmental bodies responsible for the oversight and administration of specific regulations and laws.

Crisis

A situation or period of intense difficulty, trouble, or danger, which requires immediate remedies or response.

Federal Office

A governmental position or department established by the federal law or constitution, responsible for specific duties at a national level.

Small Businesses

Enterprises characterized by a small number of employees, limited revenue, and relatively smaller scale of operations compared to larger corporations.