Multiple Choice
Cheryl writes checks totaling $200,but she has only $100 in her account.Check #101 is for $50;#102 is for $75;#103 is for $25;and #104 is for $50.All of the checks reach the bank on the same day.In what order should the bank charge them?
A) Under Article 4,it must charge them in the order in which they were drawn.
B) It must call the customer to ask which items should be paid.
C) The bank may pay them in any order it deems convenient.
D) The bank must dishonor all of the checks.
Correct Answer:

Verified
Correct Answer:
Verified
Q54: Point of sale systems permit customers to
Q55: An oral stop payment order is binding
Q56: What is the effect of a payor
Q57: A written stop payment order is effective
Q58: A substitute check:<br>A) is basically a copy
Q60: Doug takes a $500 check drawn by
Q61: Helen deposits a $50 check in her
Q62: Sylvia draws a check on ABC Bank
Q63: In most cases,the collecting bank is the
Q64: Banks like electronic funds transfers because they