Dan Drew a $100 Check on ABC Bank Payable "To

question 17

True/False

Dan drew a $100 check on ABC Bank payable "to the order of Peg Buncy." Peg cashed the check at National Bank. National Bank is an agent of Peg until the drawee bank pays the check.

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Definitions:

Stock Dividend

A dividend payment made to shareholders in the form of additional shares of stock, rather than cash.

Declaration

An official statement, announcement, or the act of revealing information explicitly.

Market Value

The current price at which an asset or service can be bought or sold in the market.

Large Stock Dividend

The distribution of a significant number of additional shares to existing shareholders, typically used to conserve cash while still providing a dividend.