Under Revised Article 3,a Promise to Pay Only Out of a Particular

question 65

True/False

Under Revised Article 3,a promise to pay only out of a particular fund will destroy the negotiability of an instrument.

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Definitions:

Controllable Margin

A measure of profitability that focuses on the income and expenses directly controlled by a manager or business unit, excluding fixed costs.

Fixed Costs

Expenses that do not change with the level of production or sales activities over a relevant period.

Contribution Margin

The difference between sales revenue and variable costs, indicating the amount contributed towards covering fixed costs and generating profit.

Performance Reports

Documents that review and assess the performance of individuals, departments, or organizations against planned objectives.