When a Drawer Gives an Incomplete Check to a Payee,and

question 54

True/False

When a drawer gives an incomplete check to a payee,and the payee completes the check contrary to the instructions of the drawer,if the bank pays the check according to the unauthorized terms,the drawer is generally liable for payment of the check as completed.

---

Definitions:

Total Revenue

The entirety of income a company secures from its sales or service activities over a certain period.

Total Cost

The sum of all costs incurred by a firm in producing a certain level of output.

Monopolistically Competitive

Describes a market structure where many companies sell products that are similar but not identical, allowing for significant competition but with some degree of pricing power.

Total Revenue

The overall amount of money earned by a firm from the sale of its goods and services, before any costs are deducted.