A check drawn on a financial institution,backed by the financial institution's finances,and made out to a specific payee is called a
A)certified check.
B)money order.
C)cashier's check.
D)traveler's check.

Question

Quizplus · Accepted Answer

A check drawn on a financial institution and made out to a specific payee is a regular check. However, a cashier's check is a specific type of check that is backed by the financial institution's finances, making it a more secure form of payment. Certified checks and traveler's checks are also backed by the financial institution's finances, but they are issued in different circumstances and have different limitations. Money orders are not backed by a financial institution's finances but rather by the money order issuer's financial resources.

A Check Drawn on a Financial Institution,backed by the Financial