Morris issued a check to Al in payment of a debt. There were sufficient funds in Morris' account to cover the check when it was presented for payment. However, due to an error, the bank dishonored the check. Which of the following statements represents the potential liability arising out of this wrongful dishonor?
a. The drawee bank is liable to Morris for any damages caused by this wrongful dishonor.
b. Both Al and the drawee bank are liable to Morris in this case.
c. The drawee bank is not liable as the debt and the dishonor exists between Al and Morris.
d. The drawee bank incurred a liability to Al by failing to pay him the amount rightfully due to him.
a
You might also like to view...
_____________activities involve long-term liabilities and stockholders' equity
Fill in the blank(s) with correct word
Five skid steers costing $20,000 each were purchased by the Biggs Excavating Company at the beginning of 2016. Biggs capitalized the skid steers in a single asset account and depreciates them using the group method. Each skid steer was expected to have a residual value of $6,000 in four years. At the end of 2019, Biggs sold one skid steer for $8,000. For what amount is accumulated depreciation
debited in the journal entry to record the disposal of that skid steer? A) $14,000 B) $12,000 C) $10,500 D) $20,000
ABC Company has decided to use online questionnaires to collect data. This method has all the following advantages EXCEPT which one?
A) low cost per respondent B) provides quantitative data C) high response rates D) no interviewer to bias respondents' answers E) can collect large amounts of information
Competition and consumer interest are both examples of ________ factors
A) internal B) transactional C) relational D) market E) attitudinal