Determine the Check Digit That Should Be Appended to the American

question 20

Multiple Choice

Determine the check digit that should be appended to the American Express Travelers Cheque identification number 293021243.

• A) 1
• B) 4
• C) 6
• D) 8

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Definitions:

Letter of Credit

A financial document issued by a bank guaranteeing a buyer's payment to a seller within a specified timeframe and under agreed conditions.

Formal Contract

A contract that by law requires a specific form, such as being executed under seal, to be valid.

Unilateral Contracts

Contracts in which one party makes a promise in exchange for the other's performance, which fulfills the contract.

Informal Contract

A contract that does not require a specified form or formality in order to be valid.