What Was a Division's Residual Income Last Year

question 36

Multiple Choice

What was A Division's residual income last year?

• A)$12,000.
• B)$22,500.
• C)$30,000.
• D)$48,000.

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Definitions:

Electronic Funds Transfer Act

A federal law that protects consumers engaging in the transfer of funds through electronic methods, ensuring their rights and establishing responsibilities for institutions.

Revised Article 4

An update or amendment to a section of the Uniform Commercial Code dealing primarily with bank deposits and collections.

Postdated Instrument

A financial instrument, such as a check, with a date in the future, indicating when it becomes payable.

Drawee Bank

The bank upon which a check is drawn, responsible for paying the check amount to the payee or bearer.