Stopping Payment on a Check

question 18

Multiple Choice

Stopping payment on a check

• A) is possible after the check clears in cases of disputes.
• B) can only be used if the check has not cleared.
• C) is free if your checkbook is lost or stolen.
• D) is encouraged by most banks as a customer service.

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Definitions:

Allocation Of Resources

Allocation of resources refers to the process of distributing available resources among various competing needs and uses in an economy to maximize efficiency and welfare.

Public Interest

The welfare or well-being of the general public, often used as a guideline for determining policy related to law, governance, and community health.

Central Planners

Individuals or groups responsible for coordinating economic activities and decisions in a centrally planned economy.

Market System

An economic system where decisions regarding investment, production, and distribution are based on supply and demand, and prices are determined in a free price system.