Ace Engineering Needed Cash and Assigned a Block of Its

question 31

True/False

Ace Engineering needed cash and assigned a block of its accounts receivable to Wellington Finance Company. A week later, it assigned another block to Bagot Finance Company. By an oversight, the second block contained an account, a receivable from Smith, which Ace had already assigned to Wellington. The notice of assignment from Bagot arrived at the Smith offices before that of Wellington. Smith should pay against the demand of Bagot Finance Co.

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Definitions:

Extraverts

Individuals who are outgoing, energized by social interactions, and tend to seek stimulation from their environment.

Introverts

Individuals characterized by a preference for quieter, more solitary activities over social interactions, often thoughtful and self-reflective.

Emotional Instability

A state characterized by rapid and intense emotional changes, often seen in various psychological disorders.

Trait Theorists

Psychologists who study personality and individual differences by focusing on measurable traits.