A lump-sum payment is when you write a check for a large amount due all at one time.
What is a check?
An order written on a specially printed form to a bank to pay a specified sum from the drawer's account.
They are also known as negotiable instrument. Checks are written instead of giving direct money, they are then deposited in bank and converted into cash.
Thus, A lump-sum payment is when you write a check for a large amount due all at one time.
Learn more about check
https://brainly.com/question/9892102
#SPJ1
