Dalton Presents an Uncertified Check for Payment More Than Six

question 21

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. If the bank follows the usual banking practice in such a case, it will​

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

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Definitions:

Economic Losses

Refers to the situation where total costs exceed total revenues, leading to a negative net income for a business.

Marginal Cost

The growth in overall costs resulting from the manufacture of one more unit of a good or service.

Economic Losses

Situations where total costs exceed total revenues, indicating that resources may be better utilized elsewhere.

Average Variable Cost

The total variable costs (costs that change with the level of output) of production divided by the quantity of output produced.