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3 years ago

Which of the following is true about checks?

Business

1 answer:

tankabanditka [31]3 years ago

4 0

Incomplete question. Here's the remaining question;

A. It is a two-party instrument.

B. It necessitates that the seller has to be both the drawer and the payee.

C. It is always payable on demand.

D. It requires that the drawer is holding the drawee's money.

Answer:

Explanation:

Note that, to be always paid on demand implies that any time a request is made (demanded) to the bank will be fulfilled.

Therefore, an individual has a sense of security using checks to receive payments.

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What is it called when banks record which account gives up money and which account receives money when a customer writes a check

swat32

Answer:

Check Clearing

Explanation:

The process by which bank records which account gives up money is called check clearing. Check clearing is the process by which banks record whose account gives up money and whose account receives money when a customer writes a check. A bank holding company is a company that owns multiple banks.

4 0

3 years ago

Holliman Corp. has current liabilities of $407,000, a quick ratio of 1.90, inventory turnover of 4.50, and a current ratio of 3.

Sati [7]

Answer:

Cost of goods will be $4670325

Explanation:

We have given current liabilities = $407000

A quick ratio = 1.90

Current ratio is 3.40 and inventory turnover = 4.50

We know that current ratio is the ratio of current assets and current liabilities

So $3.4=\frac{current\ assets}{current\ liabilities}$

So current assets = $1383800

Now quick ratio is equal to = $\frac{current\ assets-inventory}{curtrent\ liabilities}$

So $0.85=\frac{1383800-inventory}{407000}\\$

Inventory = $1037850

Inventory turnover is given 4.5

So $4.5=\frac{cost\ of\ goods\ sold}{average\ inventory}$

$4.5=\frac{cost\ of\ goods\ sold}{1037850}$

So cost of goods sold = 4.5×$1037850 = $4670325

5 0

3 years ago

A(n) _____ is in control of an agency relationship because he or she defines the tasks and objectives of the relationship./pract

NARA [144]

Answer:

Principal

Explanation:

The principal has the right to abolish the relation or set the objectives of the agent and allocation of task and authority delagated to the agent. This control is given to principal by law to protect his interests.

8 0

3 years ago

Fill in the blanks

ELEN [110]

Answer:

Management
Owners
External stakeholders

Explanation:

Management of the business is responsible for taking care of the performance of the business and comparing the present status of the business with the previous status, and sometimes with its competitors.
Owners of the business are the persons who are responsible for creating budgets and make various business-related decisions. These are done with the use of accounting information.
External stakeholders or shareholders are interested in buying shares of the company. They make their investment decisions by analyzing the various positions of the company after going through accounting information.

7 0

3 years ago

Ayooooo who wanna be my guy bestfriend?!? 12-14 <br>snap?? <br>

Agata [3.3K]

This is not a app to find friends. It’s for helping smh

7 0

2 years ago

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