Riley signs a check "pay to the order of State University" drawn on his account at Town Bank to pay tuition and fees. Like most checks, this check is
A)actual cash.
B)virtual cash.
C)a special type of draft.
D)a type of electronic fund transfer.

Question

Quizplus · Accepted Answer

This check is a special type of draft, specifically a negotiable instrument that orders the bank to pay a specific amount of money from the drawer's account to the payee's account upon presentation.

Riley Signs a Check "Pay to the Order of State