In Which of the Following Cases Will a Drawer and Any

question 29

Multiple Choice

In which of the following cases will a drawer and any persons who previously indorsed the check be discharged of their liability on the check?

• A)By certification of a check.
• B)By drawing a cashier's check.
• C)By drawing a teller's check.
• D)By death or incompetence after signing a check.

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Definitions:

Authority

The authority or capacity to command, make choices, and ensure compliance.

Responsibility Accounting Reports

Financial reports that measure the financial performance of different segments or departments of an organization, attributing revenues and expenses to the managers responsible.

Higher Levels

A term indicating advanced stages or degrees of complexity, often used in reference to education, management, or organizational structure.

Management

The process of coordinating and overseeing the work activities of others to achieve organizational goals efficiently and effectively.