Maia Wrote a Check Which Said,"Pay to the Order of Kevin

question 39

Multiple Choice

Maia wrote a check which said,"Pay to the order of Kevin Mathews $10.97." The next line of the check stated,"One thousand ninety-seven Dollars." In applying the rules of interpretation,how much should the drawee pay?

• A)Nothing;when the instrument is ambiguous it is declared non-negotiable.
• B)Ten dollars and 97 cents.Numbers control over words.
• C)One thousand,ninety-seven dollars or $1,097.00.Words control over numbers.
• D)Parol evidence would be needed to determine the purpose of the check.

Assess how various factors influence the length of the credit period offered by a firm.

Understand how accounts receivable management theories support credit decisions.

Evaluate credit terms and discounts and their financial implications.

Analyze the risk and return of extending credit to new and existing customers.

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Definitions:

Five Stages Of Development

A theory that outlines five distinct phases through which developing countries typically progress to achieve economic growth and stability.

Temporary Team

A temporary team is created for a specific project or task with a limited time frame, disbanded once the project is completed or the task is achieved.

Cross-Functional Team

A team made up of members from different functions, such as production, marketing, and finance.

Team Size

Team size refers to the number of members in a workgroup, which can significantly affect dynamics, efficiency, and overall performance.