1. Describe the procedure used to stop payment on a check. Why might you wish to initiate this process? 2. What type of information is found in the monthly bank statement, and how is it used? Explain...

1. Describe the procedure used to stop payment on a check. Why might you wish to initiate this process?

2. What type of information is found in the monthly bank statement, and how is it used? Explain the basic steps involved in reconciling an account.

3. Briefly describe each of these special types of checks:

a. Cashier’s check

b. Traveler’s check

c. Certified check