Micah Signed a Check in the Lower Right-Hand Corner and Andrew

question 9

Multiple Choice

Micah signed a check in the lower right-hand corner and Andrew signed on the back.The presumption is that

• A)Micah is the issuer.
• B)Micah is the acceptor.
• C)Andrew is the drawer.
• D)Andrew is the maker and Micah is an indorser.

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Definitions:

Cash Account

An account that records all transactions involving cash, including receipts and payments.

Ending Balance

The amount of money remaining in a financial account at the end of a reporting period, after all transactions have been accounted for.

Cash Account

An account that records cash transactions, including cash receipts and disbursements.

Direct Labor Costs

Expenses directly tied to the production of goods or services, which include wages and benefits paid to employees who physically produce a product.