Francenie Has a Checking Account at Corner Bank

question 34

Multiple Choice

Francenie has a checking account at Corner Bank.She wants tickets to an upcoming concert.She writes a check to Ticketmaster for the cost of two tickets.In this scenario:

• A)Francenie is the drawee, Corner Bank is the drawer, and Ticketmaster is the payee.
• B)Francenie is the maker, Corner Bank is the drawee, and Ticketmaster is the payee.
• C)Francenie is the drawer, Corner Bank is the drawee, and Ticketmaster is the payee.
• D)Francenie is the payee, Corner Bank is the drawer, and Ticketmaster is the maker.

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Definitions:

Gross Margin Ratio

A financial ratio that measures a company's financial health, calculated by subtracting the cost of goods sold from net sales and dividing by net sales.

Sales Revenue

The total amount of money received by a company from sales of goods or services before any expenses are subtracted.

Cost of Goods Sold

Expenses specifically related to producing the merchandise a company markets.

Acid-test Ratio

A financial metric that measures a company's ability to pay off its current liabilities with its quick or liquid assets.