Dictionary of Accounting Terms: check
check
- draft drawn upon a bank, payable upon demand to the person named upon the draft.
- to determine an item's accuracy such as by retotaling charges on an invoice or auditing source documents.
Dictionary of Banking Terms: check
check
demand draft drawn on a bank, payable to the writer or to a third party. Checks are negotiable instruments, transferable to another person. A check signed by the drawer, or maker, can be voided only by a stop payment order. The ability to offer checking accounts is one of the criteria determining whether a financial institution is, in fact, a bank, as defined by the Bank Holding Company Act.
Dictionary of Business Terms: check
check
draft upon a bank, payable on demand, and by the maker or drawer, containing a promise to pay an amount of money to the payee
Dictionary of Finance and Investment Terms: check
check
bill of exchange, or draft on a bank drawn against deposited funds to pay a specified sum of money to a specified person on demand. A check is considered as cash and is negotiable when endorsed.
