Which of the Following Would Be Included in This Year's

question 143

Multiple Choice

Which of the following would be included in this year's gross domestic product (GDP) ?

• A)One hundred shares of IBM stock that Tony sold this May
• B)A used car that Tracey sold to Justin
• C)George's purchase of a fishing rod and reel at a garage sale
• D)Sharon giving Dennis $20 as a reward for finding her ring
• E)A bucket of Kentucky Fried Chicken that Kate bought this July

Appreciate the historical and modern uses of negotiable instruments in business transactions.

Recognize the legal outcomes of dishonored drafts and the implications of "without recourse" endorsements.

Understand the legal requirements and implications of accepting drafts.

Grasp the correct procedures for endorsing checks and the effects of endorsement orders on negotiability.

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Definitions:

Venture Capital

Financing that investors provide to startup companies and small businesses believed to have long-term growth potential.

Start-up Firms

Newly established businesses, often in the early stage of development and research of their products or services.

Retained Earnings

The portion of a company's profits that is held or retained and not paid out as dividends to shareholders, often reinvested in the business.

Intrapreneurs

Employees within a company who are assigned to work on a special idea or project and are given the freedom to develop the project as an entrepreneur would.