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Figure 1.2 Using the Figure Above, Identify the Labeled Part

question 138

Short Answer

Figure 1.2
Figure 1.2     Using the figure above, identify the labeled part. -Label P: ______________________________
Using the figure above, identify the labeled part.
-Label P: ______________________________


Definitions:

Restrictive Endorsement

A limitation placed on a check specifying the conditions under which it can be paid or transferred, often used for security purposes.

Pay To The Order

A phrase written on a financial instrument such as a check, indicating the person or entity to which the money is directed.

Bank

A financial institution licensed to receive deposits and make loans, and may offer various other financial services.

Negotiable

Capable of being discussed and terms arranged; a check is a negotiable instrument drawn against deposited funds to pay a specified amount to a person or business upon demand.

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