Cheryl Writes Checks Totaling $200,but She Has Only $100 in Her

question 59

Multiple Choice

Cheryl writes checks totaling $200,but she has only $100 in her account.Check #101 is for $50;#102 is for $75;#103 is for $25;and #104 is for $50.All of the checks reach the bank on the same day.In what order should the bank charge them?

• A) Under Article 4,it must charge them in the order in which they were drawn.
• B) It must call the customer to ask which items should be paid.
• C) The bank may pay them in any order it deems convenient.
• D) The bank must dishonor all of the checks.

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Definitions:

Protestant Ethic

A concept in sociology that relates Protestantism to a strong work ethic, frugality, and the economic success of Protestant communities.

Spirit of Capitalism

A term popularized by sociologist Max Weber to describe the set of values and attitudes endorsing hard work, thrift, and efficiency in one’s calling, which he believed underpinned capitalist societies.

Max Weber

A sociologist, philosopher, and political economist from Germany whose concepts significantly impacted the fields of social theory and research.

Benevolence

The quality of being well-meaning; kindness and generosity toward others.