Renee Made Out a Check Payable to Dawn

question 25

Multiple Choice

Renee made out a check payable to Dawn. Dawn had the check certified by First National, the drawee bank, and then indorsed it to Quatro, who is the present holder. What effect does certification have on the parties?

• A) Renee alone is discharged from liability.
• B) Dawn alone is discharged from liability.
• C) First National becomes primarily liable, and both Renee and Dawn are discharged from liability.
• D) Renee remains secondarily liable.

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Lowest Gross Profit

The smallest amount of profit generated from selling goods or services, calculated by subtracting the cost of goods sold from sales revenue.

Raw Materials

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