A Check Drawn on the Bank's Own Account and Signed

question 71

Multiple Choice

A check drawn on the bank's own account and signed by an authorized bank official is called a

• A) bank draft.
• B) voucher check.
• C) cashier's check.
• D) certified check.

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Definitions:

Supply

The total amount of a good or service that is available to consumers at a given price level and time.

Demand

The desire and ability of consumers to purchase a good or service at a given price.

Tax

A required financial contribution or alternative type of tax placed on a taxpayer by a state authority to cover government outlays and assorted public spending.

Social Security Tax

A tax levied on both employers and employees to fund the Social Security program, which provides benefits to retirees, the disabled, and children of deceased workers.