Dalton Presents an Uncertified Check for Payment More Than Six

question 15

Multiple Choice

Dalton presents an uncertified check for payment more than six months after its date. The check was drawn by Emma on her account in First Bank. First bank may do all of the following except

• A) cash the check.
• B) consult Emma.
• C) refuse to cash the check.
• D) ask Dalton what he would prefer.

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Definitions:

Comparative Balance Sheet

A financial statement that compares balance sheets of different periods side by side, highlighting changes in assets, liabilities, and equity.

Collections

The process of pursuing payments of debts owed by individuals or businesses, often managed by a department or an agency.

Credit Sales

Sales made on credit, where the payment is received after the delivery of goods or services.

Operating Activities

Business activities related directly to the production and delivery of goods and services, which are reflected in a company's income and cash flow from operations.