Which of the Following Terms Is a Specific Draft,drawn by the Owner

question 51

Multiple Choice

Which of the following terms is a specific draft,drawn by the owner of a checking account,ordering the bank to pay the payee from that drawer's account?

• A)Certificates of deposit
• B)Check
• C)Note
• D)Time instrument
• E)Promissory contract

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Definitions:

U.S. Treasury Bills

Short-term government securities issued by the United States Department of the Treasury with maturity periods typically less than a year, considered low-risk investments.

Small Time Deposits

Bank deposits that have a fixed term or maturity date, typically with smaller deposit amounts and shorter durations.

Demand Deposits

Bank accounts that allow the account holder to withdraw funds without prior notification, such as checking accounts.

Shift Register

A shift register is a type of digital memory circuit used to store and shift data in a series of registers, where each clock pulse moves the data contained in the registers one position to the left or right.