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    Question

    Personal checks, cashier's checks, money orders,

    certificates of deposit (CDs), promissory notes, and traveler's checks are called NID. What does ‘I’ stand for in NID?
    A Instruments Correct Answer Incorrect Answer
    B International Correct Answer Incorrect Answer
    C Improved Correct Answer Incorrect Answer
    D Indian Correct Answer Incorrect Answer
    E Infrastructure Correct Answer Incorrect Answer

    Solution

    Common examples of negotiable instruments deposit include personal checks, cashier's checks, money orders, certificates of deposit (CDs), promissory notes, and traveler's checks. The person receiving the payment, known as the payee, must be named or otherwise indicated on the instrument.

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