Which of the Following Is True About an Allonge

question 66

Multiple Choice

Which of the following is true about an allonge?

• A)It must contain the name of a the payee to be valid.
• B)It must be accepted by the payee to be valid.
• C)It must be affixed to the indorsement.
• D)It must be provided only on demand.

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Definitions:

Account Types

This refers to the various categories used in accounting to classify financial transactions, such as assets, liabilities, equity, revenue, and expenses.

Revenues

Represent the total amount of income generated by the sale of goods or services related to a company's primary operations.

Asset Accounts

Accounts that represent the resources owned by a business, which are expected to provide future benefits.

Accounts Receivable

Financial obligations of clients or customers to a company for received goods or services that have yet to be settled.