If a Bank Is Both the Drawer and the Drawee

question 36

Multiple Choice

If a bank is both the drawer and the drawee with regard to a draft,then the draft is a

• A)certificate of deposit.
• B)cashier's check.
• C)nonnegotiable instrument.
• D)promissory note.

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Definitions:

Intangible Object

An asset or property that does not have a physical presence but possesses value, such as intellectual property or digital assets.

Tangible Property

Physical property that can be touched and seen, such as buildings, machinery, and inventory.

Stocks

Shares of ownership in a corporation, giving holders a claim on the corporation's earnings and assets.

Bonds

Bonds are fixed-income investments representing loans made by an investor to a borrower, typically corporate or governmental, with terms specifying repayment of principal and interest.