If a payee indicates, as part of the endorsement, the name of the person, firm, or bank to whom the check is to be payable, the payee has made a(n) ________ endorsement.
Fill in the blank(s) with the appropriate word(s).
full
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To include the personal assets and transactions of a business's owner(s) in the records and reports of the business would be in conflict with the:
A. Business entity assumption. B. Monetary unit assumption. C. Revenue recognition principle. D. Going-concern assumption. E. Objectivity principle.
At 12% interest (compounded annually), $20,000 invested today will grow to $________ in three years
A) 27,200 B) 28,099 C) 31,471 D) 40,000
A doctrine to avoid injustice that is used by the courts to bind a promisor to promises that a reasonable person would rely upon without consideration, is called:
a. settlement agreement b. accord and satisfaction c. unliquidated debt d. performance contract e. promissory estoppel
Credit card processing uses a check digit formula called the Luhn formula
Indicate whether the statement is true or false