Which of the Following Is an Illustration of the Possession

question 79

Multiple Choice

Which of the following is an illustration of the possession of tangible token rule?

• A) An obligee who is owed $10,000 assigns the right of collecting $5,000 each to two assignees.
• B) The right of collecting $10,000 is recorded in the assignee's savings account passbook.
• C) The assignee can re-assign the right only to a subassignee selected by the obligee.
• D) An obligee cannot assign a right to collection more than once.

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Definitions:

Payout

Refers to the distribution of financial rewards or dividends to shareholders or the disbursement of funds to satisfy debts or expenses.

Net Income

The total profit of a company after all expenses and taxes have been deducted from total revenue.

Cumulative

Refers to the aggregate amount that has been gathered or accumulated over time.

Par Value

A nominal or face value assigned to a share of stock or a bond by the issuing company, often unrelated to its market value.