Article 4A of the Uniform Commercial Code establishes the ________
A) requirements for negotiable instruments, such as checks
B) rules and principles that regulate bank deposit and collection procedures for checking accounts offered by commercial banks
C) rules that regulate the creation and collection of and liability for wire transfers
D) guidelines for ownership of securities by investors
C
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List at least three factors that can help you decide what parts to include in a business report
What will be an ideal response?
Roberto obtains an exclusive franchise to sell widgets for the Acme Widget Company. The exclusive franchise covers the entire State of Wisconsin for a period of three years. In this case:
a. the manufacturer is obligated to use his best efforts to supply the goods even if no such clause appears in the written franchise agreement. b. Roberto has an implied obligation to use his best efforts to promote the sale of the widgets. c. under the UCC, such an agreement lacks consideration. d. Two of these but not all three.
Rainbolt Incorporated makes a single product-an electrical motor used in many long-haul trucks. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted fixed manufacturing overhead$343,000 Budgeted hours 70,000machine-hours Actual production (a) 37,000unitsStandard hours per unit (b) 2.00machine-hoursStandard hours allowed for the actual production (a) × (b) 74,000machine-hours Actual fixed manufacturing overhead$363,000 Actual hours 77,500machine-hours?The fixed overhead volume variance is:
A. $400 U B. $19,600 F C. $19,600 U D. $400 F
The cost of running out of inventory is referred to as a holding cost.
Answer the following statement true (T) or false (F)