A Check That Has Been Outstanding from More Than ________

question 26

Multiple Choice

A check that has been outstanding from more than ________ is considered "stale," and the bank is under no obligation to pay it.

• A) one (1) month
• B) three (3) months
• C) six (6) months
• D) one (1) year
• E) three (3) years

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Definitions:

Enter Market

The act of beginning to offer goods or services in a particular marketplace.

Exit Market

The act of leaving a market or discontinuing the production and sale of a product or service, often due to unprofitability or strategic realignment.

Profits Eliminated

A situation where competition or other factors reduce a firm's profits to zero over time.

Monopolistically Competitive

A market structure where many producers sell products that are differentiated from one another (e.g., by branding or quality) and hence are not perfect substitutes.