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Two Friends, One an Engineer and the Other an Accountant

question 58

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Two friends, one an engineer and the other an accountant, decide to form a partnership. If the accountant takes care of the books and the engineer runs the factory, they are likely to enhance the economy's productivity through:


Definitions:

Drawer's Liability

Refers to the obligation of the drawer (the person who writes a cheque or draft) to ensure the availability of funds in the account for the amount specified for payment to the payee.

Misrepresentation Claim

A legal assertion that one party has made false statements that another party relied on to their detriment.

Stop-Payment Order

A request made to a financial institution to cancel payment on a check or payment request before it has been processed.

DVD Player

An electronic device that plays DVDs, typically allowing for the viewing of movies and other video content on a TV or monitor.

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