Which of the Following Is One of the UCC's Requirements

question 449

Multiple Choice

Which of the following is one of the UCC's requirements for an instrument to be negotiable:

• A) it must be oral
• B) it must not state a certain sum of money
• C) it must be payable on demand or at a specified time
• D) none of the other specific choices are correct
• E) all of the other specific choices are correct

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Definitions:

Scrap Value

The estimated resale value of an asset after it has reached the end of its useful life.

Units-Of-Production Method

A depreciation method that allocates expenses based on the actual usage or production levels of an asset over its useful life.

Scrap Value

An asset's anticipated resale value once it has surpassed its period of utility.

Straight-Line Method

A method of calculating depreciation of an asset by evenly distributing its cost over the useful life of the asset.