On May 5, Alston issued a $150 check to Mauch. Three days later, on May 8, Alston died. Mauch presented the check to the bank for payment on May 10 . The bank knew of Alston's death but paid the $150 to Mauch. Was the bank's action legal?
Yes. A bank may pay checks written by a depositor before her or his death for ten days after the depositor's death.
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Postage Corporation receives management consulting services from its 92 percent-owned subsidiary, Stamp Inc. During 20X7, Postage paid Stamp $125,432 for its services. For the year 20X8, Stamp billed Postage $140,000 for such services and collected all but $7,900 by year-end. Stamp's labor cost and other associated costs for the employees providing services to Postage totaled $86,000 in 20X7 and $121,000 in 20X8. Postage reported $2,567,000 of income from its own separate operations for 20X8, and Stamp reported net income of $695,000.Based on the preceding information, what amount of consolidated net income should be reported in 20X8?
A. $3,122,000 B. $3,254,100 C. $4,050,000 D. $3,262,000
Spoofing happens when:
A) an illegitimate program poses as a legitimate one. B) keystrokes are monitored and recorded. C) a word is converted into a digital pattern. D) a firewall rejects the incoming data packets.
A firm has issued preferred stock at its $125 per share par value. The stock will pay a $15 annual dividend. The cost of issuing and selling the stock was $4 per share. The cost of the preferred stock is ________.
A) 7.2 percent B) 12 percent C) 12.4 percent D) 15 percent
Cost management systems should be designed to report the same costs to each decision-maker.
Answer the following statement true (T) or false (F)