Kris presents an instrument that states "pay to the order of Liv" to Metro Bank for payment. This is a special type of draft drawn on a bank, ordering the bank to pay a fixed amount of money on demand. This is
A) a certificate of deposit.
B) a check.
C) a debit card transaction receipt.
D) a trade acceptance.

Question

Quizplus · Accepted Answer

The instrument presented by Kris that orders Metro Bank to pay Liv is a check. A certificate of deposit and a trade acceptance are different types of financial instruments, while a debit card transaction receipt is simply a record of a transaction and does not involve a bank's payment order.

Kris Presents an Instrument That States "Pay to the Order