The Ease with Which a Financial Claim Can Be Resold

question 8

Multiple Choice

The ease with which a financial claim can be resold is its

• A) quality.
• B) risk.
• C) marketability.
• D) perpetuity.

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Definitions:

Voucher Register

A record that keeps track of all issued vouchers, which are documents authorizing payments, and their current status.

NSF Check

An NSF check is a check that cannot be processed due to insufficient funds in the account it's drawn on.

Personal Deposit

Funds that an individual places in a bank account for safekeeping, which can earn interest over time depending on the type of account.

Debit Memorandum

A document issued by a buyer to a seller indicating a reduction in the amount owed, typically due to returned goods or an overcharge.