Contemporary Mathematics for Business & Consumers
Contemporary Mathematics for Business & Consumers
8th Edition
ISBN: 9781305585447
Author: Robert Brechner, Geroge Bergeman
Publisher: Cengage Learning
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Chapter 4, Problem 1CR

A(n) ___________ is a written order to a bank by a depositor to pay the amount specified from funds on deposit in a checking account. (4-1)

Expert Solution & Answer
Check Mark
To determine

To fill: The blank space in the statement, “A(n)____ is a written order to a bank by a depositor to pay the amount specified from funds on deposit in a checking account”.

Answer to Problem 1CR

Solution:

A check or draft is a written order to a bank by a depositor to pay the amount specified from funds on deposit in a checking account.

Explanation of Solution

A check or draft is a written order to a bank by a depositor to pay the amount specified from funds on deposit in a checking account.

A negotiable instrument that orders the bank to pay amount of money from person’s checking account to either a person or a business is known as draft or check.

Therefore, the correct fill for the blank is check or draft.

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Contemporary Mathematics for Business & Consumers

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