Opal Had a Check for $294 Made Out to Her

question 23

Multiple Choice

Opal had a check for $294 made out to her.She indorsed it with her name and gave it to Daryl who, in return, agreed to paint her living room the next Saturday.In this case:

• A) Daryl is not a holder.
• B) Daryl is not a holder in due course.
• C) Daryl has given value for the check.
• D) the check is not negotiable.

---

Definitions:

Balance Sheet

A financial statement that shows the assets, liabilities, and owner’s equity of an entity at a specific point in time, reflecting the financial position.

Total Liabilities

The sum of all financial obligations or debts a company owes to external parties.

Capital

Financial resources or assets owned by a business, used to fund its operations and growth.

Meta-contrast Principle

A social psychology concept suggesting that individuals define in-groups and out-groups based on the most distinct features that differentiate them from each other.