Quincy Draws a Check Payable to "Replay Stadium" to Buy

question 72

Multiple Choice

Quincy draws a check payable to "Replay Stadium" to buy two season tickets to the next year's State College football games. This instrument is

• A) ​a bearer instrument.
• B) ​an order instrument.
• C) ​nonnegotiable.
• D) ​void.

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Definitions:

Operating Assets

Assets that are used by a business in its daily or regular operations to generate revenue, including cash, inventory, and property, plant, and equipment.

Nonmonetary Asset

Assets that are not convertible directly into a fixed amount of money and do not have a stated monetary value, such as property, equipment, and intellectual property.

Fair Value

The projected cost at which an asset or liability could be swapped between consenting, informed entities in a transaction without any special ties.

Book Value

The net value of an asset as recorded on a company's balance sheet, calculated as the original cost minus depreciation.