The bank where the payee or holder of a check has an account is known as the ________
A) payer bank
B) depository bank
C) intermediary bank
D) private bank
B
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Stock warrants allow bond holders to exchange bonds for common equity shares. ?
Indicate whether the statement is true or false
Acronyms may be written in all capitals if they form _________________
a. common words b. proper names c. words with fewer than four letters d. a fabrication
Jose starts a small restaurant. On weekends, he works with his cousin to construct the tables, chairs, and counters that will go into the restaurant. What is the name given to the result of these efforts?
a. labor equity b. owner labor c. sweat equity d. family ownership
James offers to sell four acres of land to Jennifer for $8,000 and further offers to keep the offer open for one month if Jennifer will pay him $100 for the privilege. Jennifer pays James $100 . Which statement describes the payment of $100?
a. An implied in fact contract has been formed. b. A unilateral contract has been formed. c. This created a formal contract. d. This created an option contract.