Which of the following statements is FALSE?
A) most banks will refuse to honour a cheque four months after its date
B) an endorsement occurs when a payee signs a cheque over to another party
C) it is very difficult to get a bank to stop payment on a certified cheque
D) a bank can be liable if it refuses to honour a certified cheque
E) a cheque can be signed and dated for payment in the future
A
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When a coworker from Japan makes little to no eye contact with you during a conversation, what can you infer?
A) The Japanese coworker is untrustworthy. B) The Japanese coworker is being polite. C) The Japanese coworker does not like you. D) The Japanese coworker is rude. E) The Japanese coworker is bored or disinterested.
The objectivity principle requires that
A) business transactions must be consistent with the objectives of the entity B) the Financial Accounting Standards Board must be fair and unbiased in its deliberations over new accounting standards C) accounting principles must meet the objectives of the Security and Exchange Commission D) amounts recorded in the financial statements must be based on independently verifiable evidence
Which of the following statements is true of defenses to negligence?
A) Under the last-clear-chance doctrine, once the defendant establishes contributory negligence on the part of the plaintiff, the plaintiff cannot recover damages. B) The court determines the percentage of fault of the defendant under a contributory negligence defense. C) In a modified comparative negligence defense, the plaintiff can recover if the defendant is more than 50 percent at fault. D) The parties get to pick the most appropriate defense to negligence in a lawsuit.
Which of the following is true about the effect of declaration?
a. A stock dividend may not be revoked unless actually distributed. b. Even if properly declared, a cash dividend cannot be considered a debt the corporation. c. A declaration of a cash dividend cannot be rescinded without the shareholders' consent. d. The declaration of dividends is not within the discretion of the board of directors.