BUSINESS ADMINISTRATION
BUSINESS COMMUNICATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the remittance
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a letter of transmittal
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the cancelled check
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the copy of the invoice
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Detailed explanation-1: -Simply put, a canceled check is one that your bank has paid out. As soon as the funds are drawn from your account, the bank cancels the check so it can’t be reused. The check then also serves as your receipt and proof that you’ve paid the amount drawn to the vendor or service provider who cashed the check.
Detailed explanation-2: -You can get a copy of a cleared check online. Just log into Online or Mobile Banking and search for the transaction in your transaction history. When you click on the check number, you should be able to view and print a copy of the cleared check.
Detailed explanation-3: -A cancelled cheque is a type of crossed cheque that has two parallel lines drawn across it and the word “CANCELLED” written between the lines. This makes it impossible for anyone to use the cheque for unauthorized financial transactions.