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neonofarm [45]
2 years ago
13

Canceled checks are negotiable at the bank for the face value. True or false

Mathematics
1 answer:
PolarNik [594]2 years ago
8 0

The answer is False because when a check is canceled, it means that it has been paid by the drawee bank and already endorsed by the payee and the payee’s bank. They are considered as non-negotiable which the bank cannot take it for it is now only use for documenting a transaction that has already take place. However, canceled checks can be used as proof of payment.

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