There are standard transactions made with trust accounts. Research and give a brief explanation of the following standard transactions (20-30 words for each dot point)
Withdrawals: Cheque
Withdrawals: This refers to the process of taking funds out of a trust account, typically requiring authorization from the trustee or relevant parties to ensure compliance with legal obligations.
Cheque: A cheque is a written order directing a bank to pay a specified amount from a trust account to a designated payee, often used for secure and traceable transactions.