Complete/Correct Question:
Every month, Charlotte receives a bill in the mail from her mortgage company. By the first of each month, she must send back her oayment, along with the bottom part of the bill, which includes her account information and the amount enclosed. She pays these mortgage bills using a form of payment that is essentially a written order to her bank to pay the mortgage company the specified amount from the money in her bank account. What form of payment is Charlotte using in this scenario?
A) a check
B) a debit payment
C) a certificate of deposit
D) paper money
E) a line of credit
Answer:
A, a check
Explanation:
A check is a written order informing a bank to pay a certain amount of money as stipulated in it to a certain individual, company, etc. The amount stipulated in the check is paid from the account of the check owner or checking account owner to the individual whose name appears on the check as the recipient.
The drawer is the name of the name of the person that owns the transaction account from which the payment is to be made while the drawee is the person to whom the payment is to be made.
In the question above, Charlotte writes a check. The check orders her bank to pay the mortgage company whatever amount she has stipulated on the check.
Cheers.
