A Remittance Advice Attached to a Company Check Provides

question 147

Multiple Choice

A remittance advice attached to a company check provides

• A) details about the running cash balance in the checking account.
• B) the magnetic bank routing numbers.
• C) the explanation of the purpose of the check.
• D) the signature space for the maker.

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Definitions:

Fraudulent Conveyance

A transfer of property with the intent to defraud creditors.

Consideration

A legal concept in contract law referring to something of value exchanged between parties to a contract, a requirement for the contract to be binding.

Accounts Receivable

Represents money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Subsequent Assignment

The act of transferring rights or obligations to another party after the original assignment has already taken place.