Employers Company Draws a Check Payable to Felipe

question 72

Multiple Choice

Employers Company draws a check payable to Felipe. Felipe indorses the back and negotiates the check to Guarantors Bank. Primarily liable on the check is

• A)Employers Company.
• B)Felipe.
• C)Guarantors Bank.
• D)none of the choices.

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Definitions:

Standard Cost

A predetermined cost of manufacturing, selling, or operating a product or service.

Price Factor

A multiplier used to adjust prices, often in the context of indexation or currency conversion.

Standard Cost

A preset cost for a product under normal conditions, used as a benchmark against actual costs.

Price Variance

The difference between the actual price paid for a good or service and its expected (budgeted) price.