Endorsing a Check

question 56

Multiple Choice

Endorsing a check:

• A) guarantees payment.
• B) transfers the right to deposit or transfer cash.
• C) allows a check to be deposited only.
• D) None of these answers are correct.

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Definitions:

Embezzlement

A wrongful conversion of another’s funds or property by one who is lawfully in possession of those funds or that property.

Government Grant

Financial assistance given by the government to individuals, organizations, or companies for specific projects or purposes, not requiring repayment.

Partnership

An official business arrangement where several individuals jointly manage the business and divide the profits among themselves.

Articles of Organization

Official papers submitted to state authorities to formally establish a limited liability company (LLC).