To Be Negotiable,a Check Must Be in Writing

question 37

Multiple Choice

To be negotiable,a check must be in writing.Under the UCC,a check:

• A) must be written on standard size paper of 6" ´ 2.5".
• B) must be written on an official bank form.
• C) need not be on any official form or even on paper.
• D) Both a and b are requirements for a negotiable check.

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Definitions:

Consumer Groups

Organizations that advocate for the rights and interests of consumers by providing education, policy advocacy, and products or services testing.

Sales Tax

A tax imposed by a government on sales of goods and services, collected by the retailer and passed on to the government.

Tax System

The structured way in which taxes are imposed in a country, including the collection of taxes from individuals and businesses.

Progressive

Referring to a tax system in which the tax rate increases as the taxable amount increases, leading to higher earners paying a higher percentage of their income in taxes.