If a Drawer and a Payee or Holder Have Accounts

question 26

Multiple Choice

If a drawer and a payee or holder have accounts at different banks, the payer bank and depository bank are not the same bank. In this case, the check is called a(n) ________.

• A) non-negotiable instrument
• B) presentment warranty
• C) stale check
• D) "on them" item

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Definitions:

Production Volume

The total number of units of a product or service produced over a specific period of time.

Total Cost Data

The sum of all costs associated with the production or delivery of goods and services.

Mixed Cost

A cost that contains both variable and fixed cost components, making it partly dependent on the level of output or activity.

High-low Method

A method utilized in cost accounting that predicts variable and fixed expenses by examining the most and least active periods.