Fact Pattern 25-1BBelle obtains a check payable to her order from Charmayne. Belle signs the back and adds the notation "without recourse."Refer to Fact Pattern 25-1B. When Belle signs the back and adds the notation "without recourse," the check becomes

A. a bearer instrument.
B. an order instrument.
C. a promissory note.
D. a nonnegotiable instrument.


Answer: B

Business

You might also like to view...

The two main sources of stockholders' equity are investments contributed by stockholders and net income retained in the business

a. True b. False Indicate whether the statement is true or false

Business

Which statement is false regarding the preparation of the indirect method of the statement of cash flows?

a. An increase in merchandise inventory is subtracted from net income. b. Depreciation expense is added to net income. c. An increase in accounts receivable is added to net income. d. An increase in accounts payable is added to net income.

Business

A limitation of using industry norms in financial performance evaluation is that some companies in the same industry may not be strictly comparable

Indicate whether the statement is true or false

Business

In helping to determine personality, how does the MBTI differ from the “Big Five Personality Model”?

a. It is specifically attuned to work/employment style. b. It is more sensitive with respect to race and gender. c. It is less concerned with introversion/extroversion factors. d. It includes dimensions like openness to experience.

Business