In the USThe Right to Issue Currency Is Held By

question 30

Multiple Choice

In the U.S.the right to issue currency is held by:

• A)The Federal Reserve
• B)The U.S.Treasury
• C)The Office of the Comptroller of the Currency
• D)The U.S.Mint

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Definitions:

Without Recourse

A term indicating that the seller of a financial instrument or commercial paper relinquishes the right to demand payment from the issuer in the case of default.

Cashier's Check

A check issued by a bank, drawn on its own funds rather than that of an account holder, and commonly used to guarantee payment.

Certified Check

A check verified by a bank, guaranteeing that the writer of the check has enough funds available for the transaction.

Drawee

The party in a financial transaction who is directed to pay a certain amount of money as outlined in a draft or check.