Which of the following resemble checks, but differ in that they are payable by the firm issuing them rather than payable by a bank?
A) Drafts
B) Concentration banking
C) Wire transfers
D) Zero-balance account

Question

Quizplus · Accepted Answer

Drafts are financial instruments that are similar to checks but are payable by the firm issuing them, not by a bank. They are used in various transactions, including trade and finance, to facilitate payments between parties.

Which of the Following Resemble Checks, but Differ in That