Avril Receives a Payroll Check from Business Solutions, Inc

question 1

Multiple Choice

Avril receives a payroll check from Business Solutions, Inc., and indorses it by signing her name on the back of the check. This is​

• A) ​a blank indorsement.
• B) ​a qualified indorsement.
• C) ​a restrictive indorsement.
• D) ​a special indorsement.

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Definitions:

Personal Funds

Money owned by an individual that is not tied to any business, investment, or other financial obligations, typically used for personal expenses or savings.

Sells House

The act of transferring ownership of a residential property from one party to another, typically through a sale.

Gratuitous

Given or done free of charge or without receiving any value in return.

Apparent Authority

Apparent Authority refers to a situation where a person appears to have the authority to act on behalf of another person or entity, leading third parties to believe that authority exists based on the conduct or statements of the principal.