Which of the following is required for a check endorsement? The person who writes the check is called the drawee. True or False? Which of the following types of accounts requires a... Which of the following is required for a check endorsement? The person who writes the check is called the drawee. True or False? Which of the following types of accounts requires a minimum balance and draws interest at the highest rates?
Understand the Problem
The user has provided a screenshot containing three questions related to finance and accounting. The questions require knowledge of check endorsements, banking terminology, and account types. The intention is likely to get help with a quiz or homework assignment.
Answer
* Ink pen or rubber stamp and on the back of the check, * False, * All are correct
The correct answers, are:
- Ink pen or rubber stamp and on the back of the check
- False
- All are correct
Answer for screen readers
The correct answers, are:
- Ink pen or rubber stamp and on the back of the check
- False
- All are correct
More Information
An endorsement is a signature on the back of a check that transfers ownership. The person who writes the check is called the drawer, while the drawee is the bank holding the funds. Money market accounts typically require higher minimum balances and offer higher interest rates.
Tips
Students may confuse the terms 'drawer' and 'drawee' or may not understand the purpose and placement of a check endorsement.
Sources
- Glossary of Banking Terms and Phrases - HelpWithMyBank.gov - helpwithmybank.gov
- Glossary of Banking Terms | UMe Credit Union - umecreditunion.com
AI-generated content may contain errors. Please verify critical information
