select the correct answer.\nwhy should \for deposit only\ be written on a check along with the bank account…

select the correct answer.\nwhy should \for deposit only\ be written on a check along with the bank account number when it is endorsed?\na. it saves time at the bank if it is already written on the check.\nb. banks require that information be written on checks.\nc. if the check is lost, nobody else can cash it or do anything with it.\nd. it is a good reminder that the check is for deposit, not for cashing.

select the correct answer.\nwhy should \for deposit only\ be written on a check along with the bank account number when it is endorsed?\na. it saves time at the bank if it is already written on the check.\nb. banks require that information be written on checks.\nc. if the check is lost, nobody else can cash it or do anything with it.\nd. it is a good reminder that the check is for deposit, not for cashing.

Answer

Brief Explanations:

Writing "for deposit only" along with the bank - account number on a check creates a restrictive endorsement. This ensures that if the check is lost, it cannot be cashed by an unauthorized person as it can only be deposited into the specified account.

Answer:

C. If the check is lost, nobody else can cash it or do anything with it.